In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on POET Technologies Inc (POETF – Research Report), with a price target of $1.50. The company’s shares closed on Friday at $0.25.

Dede wrote:

“Asset light strategy carries creative advantages and minimizes operational downside risk. In a surprising turn of events, POET this morning announced an agreement to sell its Singapore-based DenseLight indium phosphide (InP) semiconductor manufacturing facility (fab) to an as yet unnamed party for $30M, $26M in cash at closing, the balance in a year-end determined earnout. Not expected to close until September 15 upon ratification by POET’s holders, we see the deal as transformative in greatly lightening POET’s expense encumbered asset base, stuffing cash coffers without diluting its investor base, and freeing the company to delve in deeper on iterations of its unique opto-electrical Interposer platform as the company is not losing control of its highly differentiated IP.”

https://www.markets.co/h-c-wainwright-maintains-a-buy-rating-on-poet-technologies-inc-poetf/196850/