Vanguard Group Inc Raises Position in EMCORE Co. (EMKR)

Vanguard Group Inc boosted its position in shares of EMCORE Co. (NASDAQ:EMKR) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,239,996 shares of the semiconductor company’s stock after acquiring an additional 53,325 shares during the period. Vanguard Group Inc owned approximately 4.49% of EMCORE worth $5,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EMKR. Vanguard Group Inc. lifted its holdings in EMCORE by 4.5% during the third quarter. Vanguard Group Inc. now owns 1,239,996 shares of the semiconductor company’s stock valued at $5,890,000 after purchasing an additional 53,325 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of EMCORE by 9.0% during the third quarter. Renaissance Technologies LLC now owns 658,912 shares of the semiconductor company’s stock valued at $3,130,000 after purchasing an additional 54,200 shares during the period. S Squared Technology LLC boosted its stake in shares of EMCORE by 22.2% during the third quarter. S Squared Technology LLC now owns 625,145 shares of the semiconductor company’s stock valued at $2,969,000 after purchasing an additional 113,500 shares during the period. Bridgeway Capital Management Inc. lifted its stake in EMCORE by 81.6% in the third quarter. Bridgeway Capital Management Inc. now owns 195,902 shares of the semiconductor company’s stock worth $931,000 after acquiring an additional 88,000 shares during the period. Finally, Prudential Financial Inc. lifted its stake in EMCORE by 17.0% in the third quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 9,700 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.

EMKR has been the topic of a number of analyst reports. Lake Street Capital set a $6.00 price objective on shares of EMCORE and gave the stock a “buy” rating in a research note on Thursday, December 6th. ValuEngine upgraded EMCORE from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Finally, B. Riley downgraded EMCORE from a “buy” rating to a “neutral” rating and cut their target price for the stock from $6.00 to $5.75 in a research note on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. EMCORE has a consensus rating of “Hold” and a consensus target price of $5.58.



EMKR remained flat at $$4.27 during trading on Monday. The company’s stock had a trading volume of 763 shares, compared to its average volume of 103,077. EMCORE Co. has a one year low of $3.93 and a one year high of $6.30. The stock has a market capitalization of $118.15 million, a P/E ratio of -8.06 and a beta of 0.17.

EMCORE (NASDAQ:EMKR) last announced its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported ($0.11) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). EMCORE had a negative return on equity of 15.85% and a negative net margin of 26.77%. The company had revenue of $24.00 million during the quarter, compared to analyst estimates of $24.01 million. As a group, research analysts predict that EMCORE Co. will post -0.31 EPS for the current fiscal year.

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About EMCORE

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Institutional Ownership by Quarter for EMCORE (NASDAQ:EMKR)

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