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

Analysts at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued on Friday. The brokerage set a “hold” rating on the semiconductor company’s stock.

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

EMCORE Stock Up 0.7 %

Shares of EMCORE stock opened at $3.09 on Friday. The firm’s 50 day moving average price is $3.02 and its 200-day moving average price is $2.25. EMCORE has a 52-week low of $0.78 and a 52-week high of $4.86. The company has a market cap of $28.06 million, a P/E ratio of -1.06 and a beta of 1.70.

Institutional Trading of EMCORE

Large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in EMCORE during the 4th quarter worth approximately $39,000. Kovack Advisors Inc. grew its position in 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 during the last quarter. Renaissance Technologies LLC grew its position in 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 during the last quarter. Geode Capital Management LLC grew its position in 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 during the last quarter. Finally, Gabelli Funds LLC purchased a new stake in EMCORE during the 4th quarter worth approximately $225,000. Hedge funds and other institutional investors own 65.66% of the company’s stock.

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.