StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR – Free Report) in a research note published on Thursday. The brokerage issued a hold rating on the semiconductor company’s stock.
EMCORE Stock Up 1.0 %
EMKR opened at $3.10 on Thursday. The business’s fifty day simple moving average is $3.08 and its 200 day simple moving average is $2.77. EMCORE has a 52 week low of $0.78 and a 52 week high of $3.33. The stock has a market cap of $28.15 million, a PE ratio of -1.06 and a beta of 1.70.
Hedge Funds Weigh In On EMCORE
Several hedge funds and other institutional investors have recently modified their holdings of EMKR. Newbridge Financial Services Group Inc. purchased a new stake in EMCORE during the fourth quarter valued at $39,000. Virtu Financial LLC purchased a new stake in shares of EMCORE during the 4th quarter valued at about $88,000. Gardner Lewis Asset Management L P bought a new position in shares of EMCORE in the 4th quarter worth approximately $1,758,000. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 11,985 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in EMCORE by 6.4% during the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after buying an additional 9,500 shares during the period. 65.66% of the stock is owned by 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.
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