StockNews.com Initiates Coverage on EMCORE (NASDAQ:EMKR)

Analysts at StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the semiconductor company’s stock.

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

EMCORE Trading Up 1.0 %

Shares of NASDAQ:EMKR opened at $3.10 on Friday. The company has a 50-day moving average price of $3.04 and a 200-day moving average price of $2.42. The company has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. EMCORE has a 12 month low of $0.78 and a 12 month high of $4.60.

Institutional Trading of EMCORE

A number of hedge funds have recently modified their holdings of EMKR. Newbridge Financial Services Group Inc. purchased a new position in EMCORE during the 4th quarter valued at about $39,000. Virtu Financial LLC bought a new position in shares of EMCORE during the fourth quarter valued at approximately $88,000. CSS LLC IL purchased a new position in shares of EMCORE during the fourth quarter valued at approximately $164,000. Gabelli Funds LLC bought a new stake in EMCORE in the fourth quarter worth $225,000. Finally, Geode Capital Management LLC boosted its holdings in EMCORE by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 11,985 shares in the last quarter. Institutional investors own 65.66% of the company’s stock.

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.