Foundry Partners LLC Sells 4,945 Shares of AXT, Inc. (NASDAQ:AXTI)

Foundry Partners LLC reduced its position in shares of AXT, Inc. (NASDAQ:AXTI) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 274,475 shares of the semiconductor company’s stock after selling 4,945 shares during the quarter. Foundry Partners LLC’s holdings in AXT were worth $659,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AXTI. Brookstone Capital Management bought a new stake in shares of AXT during the 4th quarter valued at about $37,000. James Investment Research Inc. bought a new stake in shares of AXT during the 3rd quarter valued at about $38,000. Barclays PLC bought a new stake in shares of AXT during the 3rd quarter valued at about $60,000. Algert Global LLC bought a new stake in shares of AXT during the 3rd quarter valued at about $85,000. Finally, Ancora Advisors LLC grew its stake in shares of AXT by 120.7% during the 3rd quarter. Ancora Advisors LLC now owns 91,278 shares of the semiconductor company’s stock valued at $219,000 after purchasing an additional 49,921 shares during the period. 49.52% of the stock is currently owned by institutional investors.

AXT Price Performance

NASDAQ AXTI opened at $2.84 on Tuesday. The stock’s 50 day moving average is $3.93 and its 200 day moving average is $2.90. AXT, Inc. has a 12 month low of $1.89 and a 12 month high of $5.64.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. AXT had a negative return on equity of 7.80% and a negative net margin of 23.59%. The company had revenue of $20.43 million for the quarter, compared to analysts’ expectations of $17.62 million. As a group, equities research analysts expect that AXT, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AXTI shares. Wedbush reaffirmed an “outperform” rating and set a $6.00 price objective on shares of AXT in a research report on Monday, April 8th. StockNews.com cut AXT from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. B. Riley lifted their price objective on AXT from $3.80 to $5.50 and gave the company a “buy” rating in a research report on Friday, April 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Tuesday, April 9th. Finally, Craig Hallum lifted their price objective on AXT from $3.75 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.30.

AXT Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.