B. Riley Asset Management LLC acquired a new stake in shares of EMCORE Co. (NASDAQ:EMKR – Get Rating) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,286,552 shares of the semiconductor company’s stock, valued at approximately $8,980,000. EMCORE comprises 3.9% of B. Riley Asset Management LLC’s portfolio, making the stock its 7th largest position.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of EMCORE by 81.9% during the fourth quarter. JPMorgan Chase & Co. now owns 63,507 shares of the semiconductor company’s stock valued at $443,000 after acquiring an additional 28,595 shares during the period. Citigroup Inc. raised its holdings in shares of EMCORE by 830.3% in the fourth quarter. Citigroup Inc. now owns 37,955 shares of the semiconductor company’s stock valued at $265,000 after buying an additional 33,875 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of EMCORE by 15.0% in the fourth quarter. Acadian Asset Management LLC now owns 385,036 shares of the semiconductor company’s stock valued at $2,686,000 after buying an additional 50,366 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of EMCORE in the fourth quarter valued at about $295,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of EMCORE by 147.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 22,927 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 13,666 shares during the last quarter. 73.63% of the stock is owned by institutional investors.
EMKR stock traded up $0.01 during midday trading on Friday, reaching $3.19. The stock had a trading volume of 391,378 shares, compared to its average volume of 457,717. The business has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $5.37. The firm has a market cap of $119.69 million, a price-to-earnings ratio of 6.65 and a beta of 1.33. EMCORE Co. has a twelve month low of $3.03 and a twelve month high of $10.87.
A number of research firms recently issued reports on EMKR. StockNews.com began coverage on EMCORE in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut EMCORE from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Lake Street Capital cut EMCORE from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $4.50 in a report on Thursday, February 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, EMCORE has a consensus rating of “Hold” and an average price target of $9.58.
EMCORE Profile (Get Rating)
EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in the United States, Canada, Asia, Europe, and internationally. It operates in two segments, Aerospace and Defense, and Broadband. The company offers navigation system and inertial sensing products, such as fiber optic gyros products that includes gyroscopes, inertial measurement units (IMU), and inertial navigation systems (INS), as well as QMEMS gyroscopes, accelerometers, IMUs, and INS products primarily for the aerospace and defense markets; and defense optoelectronics comprising optiva platform fiber optic transport systems and erbium doped fiber amplifiers, as well as ruggedized microwave flange-mount transmitters, receivers, and optical delay line products.
- Get a free copy of the StockNews.com research report on EMCORE (EMKR)
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