US Bancorp DE Purchases 27,952 Shares of POET Technologies Inc. $POET

US Bancorp DE boosted its position in shares of POET Technologies Inc. (NASDAQ:POET) by 12,881.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,169 shares of the company’s stock after acquiring an additional 27,952 shares during the period. US Bancorp DE’s holdings in POET Technologies were worth $106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sentry LLC acquired a new position in shares of POET Technologies in the 1st quarter worth approximately $38,000. Baader Bank Aktiengesellschaft bought a new stake in shares of POET Technologies in the 1st quarter valued at $47,000. JPMorgan Chase & Co. bought a new stake in shares of POET Technologies in the 4th quarter valued at $94,000. TD Waterhouse Canada Inc. increased its holdings in POET Technologies by 384.3% during 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 in the last quarter. Finally, Waddell & Associates LLC increased its holdings in POET Technologies by 55.2% during the 1st quarter. Waddell & Associates LLC now owns 41,346 shares of the company’s stock worth $156,000 after purchasing an additional 14,707 shares in the last quarter. 1.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

POET Technologies Stock Down 1.0%

NASDAQ:POET opened at $5.04 on Monday. The stock’s 50 day moving average price is $5.43 and its two-hundred day moving average price is $4.61. The firm has a market capitalization of $457.23 million, a price-to-earnings ratio of -6.22 and a beta of 0.32. POET Technologies Inc. has a 12-month low of $2.63 and a 12-month high of $7.79.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.10). POET Technologies had a negative return on equity of 141.43% and a negative net margin of 11,497.01%. The company had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.39 million. Equities research analysts expect that POET Technologies Inc. will post -0.45 EPS for the current year.

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.