StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a report published on Tuesday. The firm issued a hold rating on the semiconductor company’s stock.

EMCORE Stock Up 1.0%

Shares of EMCORE stock opened at $3.10 on Tuesday. The firm has a market capitalization of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. EMCORE has a 52 week low of $0.78 and a 52 week high of $3.17. The firm’s 50 day moving average is $3.10 and its two-hundred day moving average is $2.99.

Hedge Funds Weigh In On EMCORE

Hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of EMCORE during the fourth quarter worth approximately $39,000. Virtu Financial LLC purchased a new position in shares of EMCORE during the fourth quarter worth approximately $88,000. CSS LLC IL purchased a new position in shares of EMCORE during the fourth quarter worth approximately $164,000. Gabelli Funds LLC purchased a new position in shares of EMCORE during the fourth quarter worth approximately $225,000. Finally, Geode Capital Management LLC grew its position in shares of EMCORE by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 11,985 shares during the last quarter. 65.66% of the stock is currently owned by hedge funds and other institutional investors.

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.