EMCORE (NASDAQ:EMKR) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued on Thursday. The firm set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Performance

Shares of EMCORE stock opened at $3.10 on Thursday. The company has a market capitalization of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. EMCORE has a 1 year low of $0.78 and a 1 year high of $3.66. The company’s fifty day moving average is $3.08 and its two-hundred day moving average is $2.74.

Hedge Funds Weigh In On EMCORE

Several institutional investors have recently added to or reduced their stakes in EMKR. Newbridge Financial Services Group Inc. acquired a new stake in EMCORE during the 4th quarter worth approximately $39,000. Virtu Financial LLC purchased a new stake in shares of EMCORE during the fourth quarter worth approximately $88,000. CSS LLC IL purchased a new stake in shares of EMCORE during the fourth quarter worth approximately $164,000. Gabelli Funds LLC acquired a new stake in shares of EMCORE during the fourth quarter worth $225,000. Finally, Geode Capital Management LLC grew its position in 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 buying an additional 11,985 shares during the last quarter. Institutional investors and hedge funds 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.