StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR – Free Report) in a research note published on Tuesday morning. The firm issued a hold rating on the semiconductor company’s stock.
EMCORE Price Performance
Shares of NASDAQ EMKR opened at $3.10 on Tuesday. The stock’s 50-day moving average is $3.10 and its two-hundred day moving average is $2.99. EMCORE has a 1-year low of $0.78 and a 1-year high of $3.17. The company has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70.
Institutional Investors Weigh In On EMCORE
Large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in EMCORE during the fourth quarter worth approximately $39,000. Virtu Financial LLC purchased a new position in EMCORE in the fourth quarter valued at approximately $88,000. CSS LLC IL purchased a new position in EMCORE in the fourth quarter valued at approximately $164,000. Gabelli Funds LLC purchased a new position in EMCORE in the fourth quarter valued at approximately $225,000. Finally, Geode Capital Management LLC increased its stake in EMCORE by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 11,985 shares during the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.
About EMCORE
EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.
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