EMCORE (NASDAQ:EMKR) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR) in a report released on Sunday. The brokerage set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Performance

Shares of EMKR opened at $3.10 on Friday. The stock’s 50-day simple moving average is $3.10 and its 200 day simple moving average is $2.93. The stock has a market capitalization of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. EMCORE has a 52-week low of $0.78 and a 52-week high of $3.17.

Institutional Trading of EMCORE

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of EMCORE by 6.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 9,500 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of EMCORE by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 11,985 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of EMCORE in the 4th quarter valued at about $39,000. Virtu Financial LLC purchased a new stake in shares of EMCORE in the 4th quarter valued at about $88,000. Finally, CSS LLC IL bought a new position in shares of EMCORE during the 4th quarter valued at about $164,000. 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.