StockNews.com upgraded shares of EMCORE (NASDAQ:EMKR – Free Report) from a sell rating to a hold rating in a research report sent to investors on Monday morning.
Separately, Craig Hallum lowered their price objective on shares of EMCORE from $2.00 to $1.00 and set a hold rating for the company in a research report on Thursday, August 8th.
View Our Latest Stock Report on EMCORE
EMCORE Price Performance
EMCORE (NASDAQ:EMKR – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.30). The company had revenue of $20.44 million for the quarter, compared to analyst estimates of $20.00 million. EMCORE had a negative return on equity of 25.05% and a negative net margin of 81.08%. Research analysts anticipate that EMCORE will post -0.25 EPS for the current fiscal year.
Institutional Investors Weigh In On EMCORE
A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. boosted its holdings in shares of EMCORE Co. (NASDAQ:EMKR – Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 887,400 shares of the semiconductor company’s stock after acquiring an additional 83,100 shares during the quarter. Kovack Advisors Inc. owned 11.48% of EMCORE worth $306,000 at the end of the most recent quarter. 65.66% of the stock is owned by institutional investors and hedge funds.
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.
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