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

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a report released on Sunday. The brokerage issued a hold rating on the semiconductor company’s stock.

Separately, Craig Hallum lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th.

EMCORE Price Performance

NASDAQ:EMKR opened at $3.10 on Friday. EMCORE has a 1-year low of $0.78 and a 1-year high of $4.60. The company has a 50-day moving average of $3.04 and a 200 day moving average of $2.43. The firm has a market cap of $28.15 million, a PE ratio of -1.06 and a beta of 1.70.

Institutional Trading of EMCORE

A number of hedge funds have recently added to or reduced their stakes in the business. Beryl Capital Management LLC bought a new position in EMCORE in the fourth quarter worth about $2,625,000. Gardner Lewis Asset Management L P bought a new position in EMCORE in the fourth quarter worth about $1,758,000. Renaissance Technologies LLC raised its holdings in EMCORE by 6.4% in the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 9,500 shares in the last quarter. Kovack Advisors Inc. raised its holdings in EMCORE by 29.7% in the third quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 18,250 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in EMCORE by 18.3% in the fourth 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.

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.