Northland Securities Downgrades Emcore Corp to Hold

By Carrie Williams

Emcore Corp (NASDAQ: EMKR) received a Hold rating and a $7.50 price target from Northland Securities analyst Tim Savageaux on December 5. The company’s shares closed yesterday at $6.08, close to its 52-week low of $5.80.

According to TipRanks.com, Savageaux is a 1-star analyst with an average return of -0.2% and a 43.8% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Communications Systems, and Acacia Communications.

Currently, the analyst consensus on Emcore Corp is Hold and the average price target is $7.25, representing a 19.3% upside.

In a report issued on December 1, B.Riley FBR also assigned a Hold rating to the stock with a $8.75 price target.

The company has a one-year high of $12.20 and a one-year low of $5.80. Currently, Emcore Corp has an average volume of 248.4K.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.

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EMCORE Corp. engages in the design and development of compound semiconductor materials and processes technologies. It offers optical components, subsystems, and systems that enable the transmission of video, voice, and data over high-capacity fiber optics cables for data and telecommunications, cable television and fiber-to-the-premises networks.