EMCORE (NASDAQ:EMKR) had its target price lowered by Lake Street Capital from $10.00 to $7.00 in a report released on Wednesday, MarketBeat reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Northland Securities cut EMCORE from an outperform rating to a market perform rating in a research report on Tuesday, December 5th. B. Riley cut their price objective on EMCORE from $8.50 to $7.00 and set a neutral rating for the company in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. EMCORE presently has a consensus rating of Hold and a consensus price target of $6.67.

EMCORE (NASDAQ EMKR) opened at $5.20 on Wednesday. The stock has a market capitalization of $136.00, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.14 and a beta of 0.14. EMCORE has a 52-week low of $4.90 and a 52-week high of $12.20.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.03). The business had revenue of $24.04 million during the quarter, compared to analysts’ expectations of $24.75 million. EMCORE had a return on equity of 6.59% and a net margin of 5.48%. The company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. analysts expect that EMCORE will post 0.37 earnings per share for the current fiscal year.

In other news, CEO Jeffrey Rittichier sold 49,422 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $7.05, for a total value of $348,425.10. Following the completion of the transaction, the chief executive officer now owns 366,007 shares in the company, valued at $2,580,349.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.99% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Gotham Asset Management LLC purchased a new position in shares of EMCORE in the second quarter valued at $111,000. Voya Investment Management LLC purchased a new position in shares of EMCORE in the second quarter valued at $112,000. Highbridge Capital Management LLC increased its position in shares of EMCORE by 130.9% in the third quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 14,499 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in shares of EMCORE in the fourth quarter valued at $125,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of EMCORE in the third quarter valued at $151,000. Institutional investors and hedge funds own 75.41% of the company’s stock.

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EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.

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