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

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the semiconductor company’s stock.

EMCORE Stock Performance

Shares of EMKR stock opened at $3.10 on Wednesday. The firm 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 one year low of $0.78 and a one year high of $3.80. The company has a 50 day moving average price of $3.07 and a 200 day moving average price of $2.67.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EMKR. Newbridge Financial Services Group Inc. purchased a new stake in EMCORE during the fourth quarter valued at about $39,000. Virtu Financial LLC acquired a new position in shares of EMCORE in the 4th quarter valued at about $88,000. CSS LLC IL acquired a new position in shares of EMCORE in the 4th quarter valued at about $164,000. Gabelli Funds LLC purchased a new stake in shares of EMCORE during the 4th quarter worth about $225,000. Finally, Geode Capital Management LLC increased its position in EMCORE by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 11,985 shares in the last quarter. 65.66% of the stock is owned by hedge funds and other institutional investors.

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.