Paragon Capital Management Ltd Sells 100,500 Shares of POET Technologies Inc. $POET

Paragon Capital Management Ltd lowered its position in shares of POET Technologies Inc. (NASDAQ:POET) by 21.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 371,220 shares of the company’s stock after selling 100,500 shares during the period. POET Technologies makes up 0.7% of Paragon Capital Management Ltd’s holdings, making the stock its 21st largest holding. Paragon Capital Management Ltd’s holdings in POET Technologies were worth $3,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in POET Technologies in the 4th quarter worth approximately $2,707,000. Raymond James Financial Inc. boosted its stake in POET Technologies by 75.1% during the third quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock valued at $2,290,000 after buying an additional 177,341 shares during the period. Federation des caisses Desjardins du Quebec increased its stake in POET Technologies by 33.6% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock worth $3,910,000 after acquiring an additional 155,428 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of POET Technologies in the 2nd quarter valued at about $619,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of POET Technologies during the 1st quarter valued at about $598,000. Institutional investors own 1.99% of the company’s stock.

POET Technologies Price Performance

NASDAQ POET traded up $0.39 during trading on Tuesday, hitting $8.31. 17,864,347 shares of the company’s stock traded hands, compared to its average volume of 22,064,404. The stock has a fifty day moving average of $8.09 and a two-hundred day moving average of $9.01. POET Technologies Inc. has a 12-month low of $3.87 and a 12-month high of $20.81. The firm has a market cap of $1.28 billion, a P/E ratio of -14.33 and a beta of 0.83.

POET Technologies (NASDAQ:POET) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%.The firm had revenue of $0.57 million for the quarter, compared to the consensus estimate of $0.50 million. During the same quarter in the previous year, the business earned ($0.21) earnings per share. As a group, analysts expect that POET Technologies Inc. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a research note on Friday, July 17th. Wall Street Zen upgraded shares of POET Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Profile

POET Technologies Inc is a Canadian fabless semiconductor company focused on the development and commercialization of integrated silicon photonics platforms. Leveraging proprietary POET Optical Interposer™ technology, the company designs and manufactures optical input/output (I/O) solutions that enable high-bandwidth, low-power data transmission between electronic chips and fiber-optic networks. By integrating optical waveguides, lasers, detectors and electronic drivers onto a single chip, POET aims to address the growing demand for faster, more energy-efficient data connectivity in telecommunications, data centers and high-performance computing applications.

The company’s core products include silicon photonics interposer arrays, active optical cables and optical transceiver modules.