Bank of New York Mellon Corp Has $801,000 Stake in EMCORE Co. (NASDAQ:EMKR)

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Bank of New York Mellon Corp lowered its stake in EMCORE Co. (NASDAQ:EMKR) by 32.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 158,614 shares of the semiconductor company’s stock after selling 75,198 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of EMCORE worth $801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. LMR Partners LLP acquired a new stake in shares of EMCORE in the 2nd quarter worth approximately $465,000. P.A.W. Capital Corp lifted its stake in shares of EMCORE by 5.3% in the 2nd quarter. P.A.W. Capital Corp now owns 700,000 shares of the semiconductor company’s stock worth $3,535,000 after acquiring an additional 35,000 shares during the period. California Public Employees Retirement System lifted its stake in shares of EMCORE by 21.0% in the 1st quarter. California Public Employees Retirement System now owns 129,838 shares of the semiconductor company’s stock worth $740,000 after acquiring an additional 22,572 shares during the period. New York State Common Retirement Fund lifted its stake in shares of EMCORE by 29.1% in the 1st quarter. New York State Common Retirement Fund now owns 243,218 shares of the semiconductor company’s stock worth $1,386,000 after acquiring an additional 54,800 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of EMCORE by 8.1% in the 1st quarter. BlackRock Inc. now owns 1,384,219 shares of the semiconductor company’s stock worth $7,891,000 after acquiring an additional 103,967 shares during the period. Institutional investors own 70.51% of the company’s stock.

A number of analysts have recently weighed in on the stock. ValuEngine lowered shares of EMCORE from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. B. Riley lowered shares of EMCORE from a “buy” rating to a “neutral” rating and cut their target price for the company from $6.00 to $5.75 in a research note on Friday. Northland Securities lowered shares of EMCORE from an “outperform” rating to a “market perform” rating and set a $5.00 target price for the company. in a research note on Friday, August 3rd. TheStreet lowered shares of EMCORE from a “c” rating to a “d+” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research lowered shares of EMCORE from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.58.

EMKR stock traded down $0.32 on Friday, hitting $4.68. 166,001 shares of the company’s stock traded hands, compared to its average volume of 115,068. EMCORE Co. has a 1-year low of $4.40 and a 1-year high of $8.00. The firm has a market cap of $142.69 million, a PE ratio of 12.00 and a beta of 0.04.

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About EMCORE

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.

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Institutional Ownership by Quarter for EMCORE (NASDAQ:EMKR)

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