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

Analysts at StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Up 1.0 %

Shares of EMKR stock opened at $3.10 on Friday. The stock has a market capitalization of $28.15 million, a PE ratio of -1.06 and a beta of 1.70. The firm has a 50 day moving average of $3.09 and a two-hundred day moving average of $2.84. EMCORE has a 52 week low of $0.78 and a 52 week high of $3.17.

Hedge Funds Weigh In On EMCORE

Large investors have recently bought and sold shares of the business. Beryl Capital Management LLC purchased a new position in shares of EMCORE in the 4th quarter valued at $2,625,000. Gardner Lewis Asset Management L P purchased a new stake in shares of EMCORE during the fourth quarter worth approximately $1,758,000. Gabelli Funds LLC purchased a new position in EMCORE during the 4th quarter worth $225,000. CSS LLC IL purchased a new position in EMCORE during the fourth quarter worth about $164,000. Finally, Virtu Financial LLC acquired a new stake in shares of EMCORE in the 4th quarter valued at approximately $88,000. 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.