EMCORE (NASDAQ:EMKR) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a report issued on Saturday. The brokerage issued a hold rating on the semiconductor company’s stock.

Separately, Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th.

EMCORE Price Performance

Shares of NASDAQ:EMKR opened at $3.08 on Friday. The company has a market cap of $27.97 million, a price-to-earnings ratio of -1.05 and a beta of 1.70. The firm has a 50 day simple moving average of $3.03 and a 200 day simple moving average of $2.36. EMCORE has a one year low of $0.78 and a one year high of $4.60.

Institutional Investors Weigh In On EMCORE

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of EMCORE by 6.4% during the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after buying an additional 9,500 shares during the period. Geode Capital Management LLC increased its position in shares of EMCORE by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after buying an additional 11,985 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of EMCORE during the fourth quarter worth $39,000. Kovack Advisors Inc. increased its position in shares of EMCORE by 29.7% during the third quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock worth $176,000 after buying an additional 18,250 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of EMCORE during the fourth quarter worth $88,000. 65.66% of the stock is currently owned by institutional investors and hedge funds.

EMCORE Company Profile

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.