Paragon Capital Management Ltd Decreases Holdings in POET Technologies Inc. $POET

Paragon Capital Management Ltd reduced its position in POET Technologies Inc. (NASDAQ:POET) by 17.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 476,700 shares of the company’s stock after selling 102,600 shares during the period. POET Technologies makes up about 0.5% of Paragon Capital Management Ltd’s investment portfolio, making the stock its 24th biggest position. Paragon Capital Management Ltd owned approximately 0.53% of POET Technologies worth $2,641,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Scotia Capital Inc. lifted its holdings in POET Technologies by 13.0% in the second quarter. Scotia Capital Inc. now owns 18,295 shares of the company’s stock valued at $95,000 after acquiring an additional 2,100 shares during the period. Osaic Holdings Inc. increased its position in shares of POET Technologies by 22.3% during the 2nd quarter. Osaic Holdings Inc. now owns 34,735 shares of the company’s stock valued at $181,000 after purchasing an additional 6,340 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of POET Technologies by 390.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 13,520 shares of the company’s stock worth $70,000 after purchasing an additional 10,763 shares during the period. Marex Group plc purchased a new position in shares of POET Technologies in the second quarter worth approximately $198,000. Finally, Jump Financial LLC bought a new stake in POET Technologies during the second quarter valued at approximately $619,000. Institutional investors own 1.99% of the company’s stock.

POET Technologies Price Performance

POET opened at $7.03 on Thursday. The company has a 50 day simple moving average of $6.00 and a two-hundred day simple moving average of $5.79. The firm has a market cap of $925.68 million, a P/E ratio of -9.76 and a beta of 0.46. POET Technologies Inc. has a 1-year low of $3.09 and a 1-year high of $9.41.

POET Technologies (NASDAQ:POET) last released its earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The firm had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $0.55 million. POET Technologies had a negative net margin of 6,625.16% and a negative return on equity of 103.46%. Equities analysts anticipate that POET Technologies Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

POET has been the topic of several recent research reports. Wall Street Zen upgraded shares of POET Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research note on Wednesday, October 8th. Finally, Northland Securities set a $8.00 target price on POET Technologies in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of $8.00.

About POET Technologies

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.