Paragon Capital Management Ltd Buys 471,700 Shares of POET Technologies Inc. (NASDAQ:POET)

Paragon Capital Management Ltd boosted its position in POET Technologies Inc. (NASDAQ:POET - Free Report) by 438.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 579,300 shares of the company's stock after purchasing an additional 471,700 shares during the period. POET Technologies comprises 0.5% of Paragon Capital Management Ltd's investment portfolio, making the stock its 24th biggest position. Paragon Capital Management Ltd owned approximately 0.74% of POET Technologies worth $2,190,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Polymer Capital Management US LLC bought a new stake in POET Technologies in the 4th quarter valued at about $77,000. JPMorgan Chase & Co. bought a new stake in shares of POET Technologies in the fourth quarter valued at approximately $94,000. TD Waterhouse Canada Inc. boosted its holdings in POET Technologies by 384.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 18,113 shares of the company's stock worth $108,000 after buying an additional 14,373 shares during the period. HighTower Advisors LLC bought a new position in POET Technologies in the 4th quarter worth approximately $116,000. Finally, EntryPoint Capital LLC purchased a new position in POET Technologies in the 4th quarter valued at approximately $119,000. 1.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised POET Technologies from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

POET Technologies Trading Up 0.5%

Shares of POET stock traded up $0.02 during trading hours on Monday, reaching $4.19. The stock had a trading volume of 988,938 shares, compared to its average volume of 1,573,276. The stock's fifty day simple moving average is $4.18 and its 200 day simple moving average is $4.52. The firm has a market capitalization of $354.42 million, a PE ratio of -7.10 and a beta of 0.25. POET Technologies Inc. has a 12 month low of $1.65 and a 12 month high of $7.79.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.17. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.56 million. As a group, equities research analysts anticipate that POET Technologies Inc. will post -0.45 EPS for the current fiscal year.

About POET Technologies

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques.