EMCORE (NASDAQ:EMKR) Given a $5.00 Price Target at Northland Securities

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Northland Securities set a $5.00 price objective on EMCORE (NASDAQ:EMKR) in a research note published on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

EMKR has been the subject of several other reports. ValuEngine raised Valmont Industries from a sell rating to a hold rating in a report on Friday. Lake Street Capital set a $5.00 target price on EMCORE and gave the company a buy rating in a report on Friday. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a report on Wednesday. Finally, B. Riley raised EMCORE from a neutral rating to a buy rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $5.05.

Shares of NASDAQ:EMKR traded down $0.34 on Friday, hitting $2.95. 654,333 shares of the company’s stock were exchanged, compared to its average volume of 139,357. The stock’s 50-day moving average is $3.43. The stock has a market capitalization of $82.18 million, a P/E ratio of -5.57 and a beta of 0.21. EMCORE has a 1-year low of $2.68 and a 1-year high of $5.54.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The business had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $22.56 million. EMCORE had a negative return on equity of 16.56% and a negative net margin of 27.99%. On average, sell-side analysts predict that EMCORE will post -0.34 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of EMKR. Virtu Financial LLC lifted its holdings in shares of EMCORE by 40.5% in the 1st quarter. Virtu Financial LLC now owns 15,380 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 4,436 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in EMCORE during the 4th quarter valued at approximately $63,000. GMT Capital Corp purchased a new stake in EMCORE during the 1st quarter valued at approximately $100,000. Alambic Investment Management L.P. purchased a new stake in EMCORE during the 1st quarter valued at approximately $104,000. Finally, California Public Employees Retirement System raised its stake in EMCORE by 7.5% during the 4th quarter. California Public Employees Retirement System now owns 153,472 shares of the semiconductor company’s stock valued at $645,000 after acquiring an additional 10,691 shares during the last quarter. 60.34% of the stock is owned by institutional investors and hedge funds.

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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