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

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

EMCORE Trading Up 1.0 %

Shares of EMKR stock opened at $3.10 on Tuesday. EMCORE has a 1 year low of $0.78 and a 1 year high of $3.98. The firm’s fifty day simple moving average is $3.06 and its 200 day simple moving average is $2.60. The firm has a market capitalization of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70.

Institutional Investors Weigh In On EMCORE

Several institutional investors and hedge funds have recently bought and sold shares of EMKR. Newbridge Financial Services Group Inc. bought a new stake in EMCORE in the 4th quarter valued at $39,000. Virtu Financial LLC bought a new stake in EMCORE in the 4th quarter valued at $88,000. CSS LLC IL bought a new stake in EMCORE in the 4th quarter valued at $164,000. Gabelli Funds LLC bought a new stake in EMCORE in the 4th quarter valued at $225,000. Finally, Geode Capital Management LLC increased its holdings 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 period. Institutional investors own 65.66% of the company’s stock.

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.