EMCORE Co. (EMKR) Shares Bought by Ariel Investments LLC

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Ariel Investments LLC lifted its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 15.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,290,816 shares of the semiconductor company’s stock after acquiring an additional 304,256 shares during the period. Ariel Investments LLC owned approximately 8.33% of EMCORE worth $11,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. P.A.W. Capital Corp lifted its stake in EMCORE by 5.3% in the second quarter. P.A.W. Capital Corp now owns 700,000 shares of the semiconductor company’s stock worth $3,535,000 after purchasing an additional 35,000 shares during the last quarter. Deutsche Bank AG lifted its stake in EMCORE by 98.0% in the fourth quarter. Deutsche Bank AG now owns 225,522 shares of the semiconductor company’s stock worth $1,453,000 after purchasing an additional 111,620 shares during the last quarter. Needham Investment Management LLC bought a new stake in EMCORE in the first quarter worth $342,000. Connors Investor Services Inc. lifted its stake in EMCORE by 48.1% in the first quarter. Connors Investor Services Inc. now owns 46,193 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 15,000 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in EMCORE by 8.1% in the first quarter. BlackRock Inc. now owns 1,384,219 shares of the semiconductor company’s stock worth $7,891,000 after purchasing an additional 103,967 shares during the last quarter. 70.66% of the stock is owned by institutional investors.

EMKR has been the subject of several recent research reports. B. Riley raised shares of EMCORE from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $5.75 to $6.00 in a research note on Friday, May 4th. ValuEngine downgraded shares of EMCORE from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. Zacks Investment Research raised shares of EMCORE from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Northland Securities downgraded shares of EMCORE from an “outperform” rating to a “market perform” rating and set a $5.00 price target for the company. in a research note on Friday, August 3rd. Finally, TheStreet downgraded shares of EMCORE from a “c” rating to a “d+” rating in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $6.00.

Shares of NASDAQ:EMKR opened at $4.87 on Thursday. The stock has a market cap of $131.97 million, a PE ratio of 12.44 and a beta of 0.38. EMCORE Co. has a 12 month low of $4.40 and a 12 month high of $9.25.

EMCORE (NASDAQ:EMKR) last issued its quarterly earnings data on Thursday, August 2nd. The semiconductor company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The firm had revenue of $17.72 million for the quarter, compared to the consensus estimate of $18.02 million. EMCORE had a negative net margin of 10.45% and a negative return on equity of 6.84%. sell-side analysts predict that EMCORE Co. will post -0.42 EPS for the current year.

EMCORE Company Profile

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.

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Institutional Ownership by Quarter for EMCORE (NASDAQ:EMKR)

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