StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

Analysts at StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a report issued on Sunday. The firm set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Stock Performance

NASDAQ:EMKR opened at $3.10 on Friday. The stock has a 50-day simple moving average of $3.04 and a two-hundred day simple moving average of $2.42. The firm has a market capitalization of $28.15 million, a PE ratio of -1.06 and a beta of 1.70. EMCORE has a 52-week low of $0.78 and a 52-week high of $4.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kovack Advisors Inc. raised its position in shares of EMCORE by 29.7% during the 3rd quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 18,250 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in EMCORE during the fourth quarter valued at $39,000. Virtu Financial LLC bought a new position in EMCORE during the fourth quarter valued at $88,000. Gardner Lewis Asset Management L P purchased a new stake in shares of EMCORE in the fourth quarter valued at $1,758,000. Finally, Geode Capital Management LLC lifted its holdings in shares of EMCORE by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 11,985 shares during the last quarter. 65.66% of the stock is currently 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.