Portolan Capital Management Now Owns 5.85% of EMCORE (EMKR)

Fintel reports that Portolan Capital Management
has filed a 13G form
with the SEC disclosing ownership of
3.11MM
shares of EMCORE Corporation (EMKR).

This represents 5.85% of the company.

In their previous filing dated February 14, 2018
they reported 0.67MM shares and 2.48% of the company,
an increase in shares of 362.36%
and
an increase in total ownership of
3.37% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 199.35% Upside

As of March 24, 2023,
the average one-year price target for EMCORE is $3.44.
The forecasts range from a low of $2.52 to a high of $5.25.
The average price target represents an increase of 199.35% from its latest reported closing price of $1.15.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for EMCORE
is $138MM, an increase of 29.18%.

The projected annual non-GAAP EPS
is -$0.40.

What is the Fund Sentiment?

There are 144 funds or institutions reporting positions in EMCORE.

This is a decrease
of
44
owner(s) or 23.40% in the last quarter.

Average portfolio weight of all funds dedicated to EMKR is 0.03%,
an increase
of 51.38%.

Total shares owned by institutions decreased
in the last three months by 2.08% to 24,285K shares.

The put/call ratio of EMKR is 0.01, indicating a

bullish
outlook.

What are Large Shareholders Doing?

Neuberger Berman Group
holds 2,242K shares

representing 4.19% ownership of the company.

In it’s prior filing, the firm reported owning 2,155K shares, representing
an increase
of 3.88%.

The firm

decreased

its portfolio allocation in EMKR by 99.97% over the last quarter.

AWM Investment
holds 2,000K shares

representing 3.74% ownership of the company.

In it’s prior filing, the firm reported owning 2,781K shares, representing
a decrease
of 39.06%.

The firm

decreased

its portfolio allocation in EMKR by 60.69% over the last quarter.

Palogic Value Management
holds 1,500K shares

representing 2.80% ownership of the company.

Renaissance Technologies
holds 1,457K shares

representing 2.72% ownership of the company.

In it’s prior filing, the firm reported owning 1,433K shares, representing
an increase
of 1.65%.

The firm

decreased

its portfolio allocation in EMKR by 43.34% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 1,425K shares

representing 2.66% ownership of the company.

No change in the last quarter.

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.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.