Northland Securities analyst Tim Savageaux maintained a Buy rating on Emcore Corp (EMKR) today and set a price target of $6. The company’s shares closed yesterday at $3.34, close to its 52-week low of $3.25.
Savageaux commented:
“We make no changes to our estimates, with a modest reduction in cash to reflect the $4.4M settlement vs EMKRs ~$28M in post deal cash.”
According to TipRanks.com, Savageaux is a 2-star analyst with an average return of 0.4% and a 45.7% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Applied Optoelectronics.
Emcore Corp has an analyst consensus of Strong Buy, with a price target consensus of $5.87.
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The company has a one-year high of $5.54 and a one-year low of $3.25. Currently, Emcore Corp has an average volume of 138.5K.
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EMCORE Corp. engages in the manufacture and provision of mixed-signal optics products. It offers catv broadband transport and access; lasers and components; chip level devices; satellite RF fiber optic transport; wireless/distributed antenn systems; microwave components; and fiber optics gyros, sensors, and navigation systems.
