B.Riley FBR Assigns a Buy Rating on Emcore (EMKR)

In a report released today, Dave Kang from B.Riley FBR assigned a Buy rating to Emcore (EMKRResearch Report), with a price target of $4.20. The company’s shares closed last Monday at $3.19.

According to TipRanks.com, Kang is a 5-star analyst with an average return of 19.9% and a 64.2% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, DASAN Zhone Solutions, and Acacia Communications.

The word on The Street in general, suggests a Hold analyst consensus rating for Emcore.

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Based on Emcore’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.48 million. In comparison, last year the company had a GAAP net loss of $5.89 million.

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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.