Fintel reports that on October 2, 2024, Craig-Hallum upgraded their outlook for EMCORE (NasdaqCM:EMKR) from Hold to Buy.
Analyst Price Forecast Suggests 58.37% Downside
As of September 25, 2024, the average one-year price target for EMCORE is $1.02/share. The forecasts range from a low of $1.01 to a high of $1.05. The average price target represents a decrease of 58.37% from its latest reported closing price of $2.45 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for EMCORE is 181MM, an increase of 99.21%. The projected annual non-GAAP EPS is 0.04.
What is the Fund Sentiment?
There are 45 funds or institutions reporting positions in EMCORE. This is an increase of 31 owner(s) or 221.43% in the last quarter. Average portfolio weight of all funds dedicated to EMKR is 0.01%, an increase of 84.57%. Total shares owned by institutions decreased in the last three months by 83.92% to 1,038K shares. 
The put/call ratio of EMKR is 0.52, indicating a bullish outlook.
What are Other Shareholders Doing?
Perkins Capital Management holds 211K shares representing 2.32% ownership of the company.
Renaissance Technologies holds 131K shares representing 1.45% ownership of the company.
Aegis Financial holds 100K shares representing 1.10% ownership of the company.
AVALX - Aegis Value Fund Class I holds 98K shares representing 1.08% ownership of the company.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 78K shares representing 0.86% ownership of the company.
Emcore Background Information
(This description is provided by the company.)
EMCORE Corporation is a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets. Its best-in-class components and systems support a broad array of applications including navigation and inertial sensing, defense optoelectronics, broadband transport, 5G wireless infrastructure, optical sensing, and cloud data centers. EMCORE Corporation leverages industry-leading Quartz MEMS, Lithium Niobate, and Indium Phosphide chip-level technology to deliver state-of-the-art component and system-level products across our end-market applications. EMCORE has vertically-integrated manufacturing capability at its wafer fabrication facility in Alhambra, CA, and Quartz MEMS manufacturing facility in Concord, CA. Its manufacturing facilities maintain ISO 9001 quality management certification, and we are AS9100 aerospace quality certified at our facility in Concord.
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