POET Technologies Inc. (NASDAQ:POET) Stock Holdings Raised by Waddell & Associates LLC

Waddell & Associates LLC raised its stake in POET Technologies Inc. (NASDAQ:POET) by 55.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 41,346 shares of the company’s stock after purchasing an additional 14,707 shares during the period. Waddell & Associates LLC owned 0.05% of POET Technologies worth $156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sentry LLC bought a new stake in shares of POET Technologies in the 1st quarter worth about $38,000. Polymer Capital Management US LLC bought a new stake in shares of POET Technologies in the 4th quarter worth about $77,000. JPMorgan Chase & Co. bought a new stake in shares of POET Technologies in the 4th quarter worth about $94,000. TD Waterhouse Canada Inc. increased its position in shares of 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 purchasing an additional 14,373 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of POET Technologies in the 4th quarter worth about $116,000. Institutional investors own 1.99% of the company’s stock.

POET Technologies Stock Down 0.2%

Shares of NASDAQ:POET opened at $6.23 on Friday. POET Technologies Inc. has a fifty-two week low of $2.27 and a fifty-two week high of $7.79. The firm has a 50-day simple moving average of $5.11 and a 200 day simple moving average of $4.56. The company has a market cap of $532.93 million, a PE ratio of -8.42 and a beta of 0.28.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.17. The business had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.56 million. As a group, research analysts forecast that POET Technologies Inc. will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of POET Technologies from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

POET Technologies Company Profile

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.