Analysts Issue Forecasts for POET FY2029 Earnings

POET Technologies Inc. (NASDAQ:POET) – Equities researchers at Zacks Research issued their FY2029 earnings per share estimates for shares of POET Technologies in a research note issued to investors on Wednesday, August 26th. Zacks Research analyst L. Thompson anticipates that the company will post earnings per share of $0.43 for the year. The consensus estimate for POET Technologies’ current full-year earnings is ($0.28) per share.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a report on Friday, July 17th. Wall Street Zen upgraded POET Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Stock Performance

Shares of POET Technologies stock opened at $7.10 on Wednesday. The firm’s 50-day simple moving average is $8.32 and its 200-day simple moving average is $8.94. POET Technologies has a 1 year low of $3.87 and a 1 year high of $20.81. The firm has a market cap of $1.09 billion, a PE ratio of -12.24 and a beta of 0.83.

POET Technologies (NASDAQ:POET) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $0.57 million for the quarter, compared to analyst estimates of $0.50 million. POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%.During the same period in the previous year, the company posted ($0.21) EPS.

Hedge Funds Weigh In On POET Technologies

Large investors have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new stake in shares of POET Technologies in the third quarter worth approximately $25,000. Quarry LP purchased a new position in shares of POET Technologies during the 4th quarter valued at $29,000. Coldstream Capital Management Inc. acquired a new position in shares of POET Technologies in the third quarter worth $55,000. PNC Financial Services Group Inc. purchased a new stake in shares of POET Technologies during the first quarter worth $59,000. Finally, Shelton Wealth Management LLC purchased a new position in POET Technologies in the first quarter valued at about $59,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

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.