POET Technologies (NASDAQ:POET) Hits New 12-Month High - Here's Why

Key Points

• POET Technologies hit a new 52-week high
• Analysts remain cautious—the stock has an average Sell rating with an $8 target—and the company missed quarterly EPS expectations (‑$0.09 vs. ‑$0.06), reporting extremely negative margins and ROE.
• POET is a Canadian fabless semiconductor focused on silicon photonics (optical interposers, active cables, transceivers), has a $1.36 billion market cap, and only about 1.99% institutional ownership.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $11.09 and last traded at $10.3520, with a volume of 25543900 shares traded. The stock had previously closed at $8.59.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of POET Technologies in a research report on Thursday, January 22nd. Wall Street Zen downgraded POET Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell" and an average target price of $8.00.

POET Technologies Stock Up 19.7%

The company's fifty day moving average is $6.30 and its 200 day moving average is $6.44. The stock has a market cap of $1.36 billion, a PE ratio of -18.19 and a beta of 0.36.

POET Technologies (NASDAQ:POET - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). POET Technologies had a negative net margin of 5,857.02% and a negative return on equity of 38.88%. The business had revenue of $0.34 million during the quarter, compared to analysts' expectations of $0.40 million. Equities analysts expect that POET Technologies Inc. will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in POET Technologies in the third quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in POET Technologies in the third quarter valued at approximately $27,000. CoreCap Advisors LLC raised its holdings in POET Technologies by 1,967.2% in the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company's stock valued at $29,000 after buying an additional 4,918 shares during the period. Quarry LP acquired a new stake in shares of POET Technologies in the fourth quarter valued at about $29,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of POET Technologies by 95.3% in the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company's stock valued at $47,000 after buying an additional 4,142 shares in the last quarter. Hedge funds and other institutional investors own 1.99% of the company's stock.

POET Technologies Company 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.

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