First Trust Advisors LP increased its position in shares of AXT Inc (NASDAQ:AXTI) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,426 shares of the semiconductor company’s stock after acquiring an additional 10,016 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of AXT worth $276,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Delta Investment Management LLC purchased a new stake in shares of AXT during the fourth quarter worth approximately $190,000. Rhumbline Advisers increased its stake in AXT by 42.5% in the fourth quarter. Rhumbline Advisers now owns 52,855 shares of the semiconductor company’s stock valued at $230,000 after purchasing an additional 15,765 shares during the last quarter. Putnam Investments LLC purchased a new position in AXT in the third quarter valued at approximately $1,118,000. Allianz Asset Management GmbH increased its stake in AXT by 9.1% in the third quarter. Allianz Asset Management GmbH now owns 498,435 shares of the semiconductor company’s stock valued at $3,564,000 after purchasing an additional 41,654 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its stake in AXT by 6.3% in the third quarter. Pacific Ridge Capital Partners LLC now owns 791,219 shares of the semiconductor company’s stock valued at $5,657,000 after purchasing an additional 46,741 shares during the last quarter. 54.89% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of AXT from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised AXT from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Finally, B. Riley reduced their target price on AXT to $6.25 and set a “buy” rating for the company in a report on Tuesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.88.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $20.69 million. AXT had a return on equity of 5.06% and a net margin of 9.43%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. As a group, sell-side analysts forecast that AXT Inc will post 0.07 EPS for the current year.
AXT Company Profile
AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.
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