MMCAP International Inc. SPC Has $19.86 Million Stock Holdings in POET Technologies Inc. $POET

MMCAP International Inc. SPC lessened its stake in POET Technologies Inc. (NASDAQ:POET) by 39.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,585,240 shares of the company’s stock after selling 2,309,144 shares during the period. POET Technologies comprises about 2.3% of MMCAP International Inc. SPC’s investment portfolio, making the stock its 10th largest position. MMCAP International Inc. SPC’s holdings in POET Technologies were worth $19,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. raised its position in shares of POET Technologies by 253.1% during the second quarter. Raymond James Financial Inc. now owns 235,992 shares of the company’s stock worth $1,230,000 after acquiring an additional 169,158 shares during the last quarter. Quadrature Capital Ltd bought a new position in POET Technologies during the 2nd quarter worth approximately $855,000. Jump Financial LLC acquired a new position in shares of POET Technologies in the 2nd quarter worth approximately $619,000. Marex Group plc acquired a new position in shares of POET Technologies in the 2nd quarter worth approximately $198,000. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of POET Technologies by 563.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 41,678 shares of the company’s stock valued at $248,000 after purchasing an additional 35,400 shares during the last quarter. Institutional investors and hedge funds own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on POET shares. Northland Securities set a $8.00 target price on shares of POET Technologies in a research note on Wednesday, December 3rd. Wall Street Zen upgraded POET Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell” and an average target price of $8.00.

POET Technologies Stock Up 2.2%

Shares of NASDAQ POET opened at $5.69 on Monday. The firm has a market cap of $751.19 million, a PE ratio of -7.90 and a beta of 0.37. The company’s fifty day simple moving average is $6.62 and its 200 day simple moving average is $6.13. POET Technologies Inc. has a 12-month low of $3.09 and a 12-month high of $9.41.

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.