California Public Employees Retirement System maintained its position in AXT Inc (NASDAQ:AXTI) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 130,400 shares of the semiconductor company’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in AXT were worth $756,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in AXT by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,251,705 shares of the semiconductor company’s stock worth $10,808,000 after buying an additional 263,232 shares during the period. Northpointe Capital LLC acquired a new position in AXT during the first quarter worth approximately $4,524,000. Essex Investment Management Co. LLC boosted its position in AXT by 31.9% in the first quarter. Essex Investment Management Co. LLC now owns 278,509 shares of the semiconductor company’s stock worth $1,615,000 after buying an additional 67,335 shares during the period. Wells Fargo & Company MN boosted its position in AXT by 34.2% in the first quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 91,945 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in AXT by 314.4% in the first quarter. Bank of New York Mellon Corp now owns 148,703 shares of the semiconductor company’s stock worth $862,000 after buying an additional 112,818 shares during the period. 56.73% of the stock is owned by institutional investors.
Shares of AXT Inc (NASDAQ AXTI) traded up 0.329% during trading on Thursday, reaching $7.625. The company’s stock had a trading volume of 40,713 shares. The stock’s 50-day moving average is $7.42 and its 200-day moving average is $6.73. The stock has a market cap of $292.62 million, a P/E ratio of 38.125 and a beta of 1.08. AXT Inc has a 12-month low of $3.80 and a 12-month high of $9.50.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.05. AXT had a return on equity of 4.61% and a net margin of 8.15%. The business had revenue of $23.56 million for the quarter, compared to the consensus estimate of $22.55 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts anticipate that AXT Inc will post $0.24 earnings per share for the current fiscal year.
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AXTI has been the subject of a number of research analyst reports. B. Riley reissued a “neutral” rating and set a $7.00 price target on shares of AXT in a report on Friday, April 21st. Needham & Company LLC boosted their price target on AXT from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Zacks Investment Research cut AXT from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. Dougherty & Co reissued a “buy” rating on shares of AXT in a report on Saturday, June 17th. Finally, BidaskClub raised AXT from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $9.04.
In other AXT news, Director David C. Chang sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total transaction of $79,200.00. Following the sale, the director now owns 164,807 shares in the company, valued at $1,450,301.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert G. Ochrym sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $6.93, for a total value of $51,975.00. Following the sale, the vice president now owns 39,000 shares in the company, valued at approximately $270,270. The disclosure for this sale can be found here. Insiders have sold 109,396 shares of company stock worth $924,507 in the last 90 days. Company insiders own 6.90% of the company’s stock.
AXT Company Profile
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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