Unterberg Capital LLC boosted its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 57.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 678,000 shares of the semiconductor company’s stock after acquiring an additional 248,000 shares during the period. EMCORE comprises 5.3% of Unterberg Capital LLC’s portfolio, making the stock its 5th largest holding. Unterberg Capital LLC’s holdings in EMCORE were worth $4,373,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Gotham Asset Management LLC acquired a new position in EMCORE during the second quarter worth about $111,000. Voya Investment Management LLC acquired a new position in EMCORE during the second quarter worth about $112,000. Dynamic Technology Lab Private Ltd acquired a new position in EMCORE during the third quarter worth about $151,000. Wells Fargo & Company MN raised its position in EMCORE by 2.5% during the second quarter. Wells Fargo & Company MN now owns 19,146 shares of the semiconductor company’s stock worth $204,000 after acquiring an additional 466 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new position in EMCORE during the fourth quarter worth about $125,000. Institutional investors own 66.05% of the company’s stock.
EMCORE Co. (NASDAQ EMKR) opened at $5.60 on Tuesday. The firm has a market cap of $152.32, a P/E ratio of 19.31, a PEG ratio of 46.67 and a beta of 0.14. EMCORE Co. has a 52-week low of $4.90 and a 52-week high of $12.20.
A number of equities analysts have issued reports on the stock. Lake Street Capital cut their target price on shares of EMCORE from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. Northland Securities cut shares of EMCORE from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 5th. B. Riley cut their target price on shares of EMCORE from $8.50 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. Finally, Zacks Investment Research lowered shares of EMCORE from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. EMCORE presently has a consensus rating of “Hold” and a consensus target price of $6.67.
In other news, CEO Jeffrey Rittichier sold 49,422 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $7.05, for a total value of $348,425.10. Following the completion of the transaction, the chief executive officer now owns 366,007 shares of the company’s stock, valued at $2,580,349.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.99% of the company’s stock.
EMCORE Company Profile
EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.
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