EMCORE (NASDAQ:EMKR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note published on Wednesday morning. The brokerage issued a hold rating on the semiconductor company’s stock.

Separately, Craig Hallum downgraded EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th.

EMCORE Stock Performance

NASDAQ:EMKR opened at $2.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64. EMCORE has a 1 year low of $0.78 and a 1 year high of $7.20. The stock’s 50 day simple moving average is $2.48 and its two-hundred day simple moving average is $1.56. The company has a market cap of $27.03 million, a price-to-earnings ratio of -0.34 and a beta of 1.70.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. increased its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.

About EMCORE

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.