Trade Report: Today, Analysts gives Consensus Recommendation of “Buy” to Emcore Corp. (EMKR)

Today, Analysts gives Consensus Recommendation of “Buy” to Emcore Corp. (EMKR)

Emcore Corp. (NASDAQ:EMKR) has been given an average recommendation of “Buy” by the six analysts that are presently covering the firm. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.17.

A number of equities analysts have weighed in on EMKR shares. B. Riley reaffirmed a “buy” rating and set a $7.00 price target on shares of Emcore Corp. in a research note on Tuesday, August 9th. Dougherty & Co initiated coverage on shares of Emcore Corp. in a research report on Thursday, October 20th. They issued a “buy” rating and a $7.50 price objective for the company. Finally, Zacks Investment Research lowered shares of Emcore Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.

Shares of Emcore Corp. (NASDAQ:EMKR) remained flat at $6.80 during midday trading on Friday. 94,524 shares of the company’s stock were exchanged. The stock has a market capitalization of $177.74 million, a P/E ratio of 23.21 and a beta of 0.93. Emcore Corp. has a 52 week low of $4.90 and a 52 week high of $8.52. The stock has a 50-day moving average price of $6.15 and a 200-day moving average price of $5.72.

Large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC raised its stake in Emcore Corp. by 1.4% in the second quarter. Parametric Portfolio Associates LLC now owns 23,361 shares of the company’s stock worth $139,000 after buying an additional 328 shares during the last quarter. Rhumbline Advisers raised its stake in Emcore Corp. by 1.3% in the third quarter. Rhumbline Advisers now owns 28,115 shares of the company’s stock worth $160,000 after buying an additional 350 shares during the last quarter. Engineers Gate Manager LP raised its stake in Emcore Corp. by 1.4% in the second quarter. Engineers Gate Manager LP now owns 26,611 shares of the company’s stock worth $158,000 after buying an additional 368 shares during the last quarter. California State Teachers Retirement System raised its stake in Emcore Corp. by 0.9% in the third quarter. California State Teachers Retirement System now owns 55,305 shares of the company’s stock worth $315,000 after buying an additional 500 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in Emcore Corp. by 9.5% in the second quarter. Teachers Advisors Inc. now owns 39,447 shares of the company’s stock worth $234,000 after buying an additional 3,434 shares during the last quarter. 65.35% of the stock is owned by institutional investors and hedge funds.

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