EMCORE (NASDAQ:EMKR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note released on Friday. The firm issued a hold rating on the semiconductor company’s stock.

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

EMCORE Stock Down 0.3 %

NASDAQ:EMKR opened at $3.08 on Friday. EMCORE has a 1-year low of $0.78 and a 1-year high of $4.86. The firm has a market capitalization of $27.97 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The stock has a fifty day simple moving average of $3.02 and a 200 day simple moving average of $2.27.

Institutional Investors Weigh In On EMCORE

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Gardner Lewis Asset Management L P purchased a new stake in shares of EMCORE during the 4th quarter worth about $1,758,000. Renaissance Technologies LLC raised its stake in shares of EMCORE by 6.4% during the 4th 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 stake 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 worth $176,000 after purchasing an additional 18,250 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of EMCORE by 18.3% during the 4th 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. Finally, Gabelli Funds LLC purchased a new stake in shares of EMCORE during the 4th quarter worth about $225,000. 65.66% of the stock is owned by hedge funds and other institutional investors.

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.