River & Mercantile Asset Management LLP purchased a new position in AXT Inc (NASDAQ:AXTI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 422,477 shares of the semiconductor company’s stock, valued at approximately $1,673,000. River & Mercantile Asset Management LLP owned approximately 1.05% of AXT as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its stake in AXT by 507.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 6,625 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in AXT in the second quarter worth about $54,000. Eidelman Virant Capital acquired a new position in AXT in the second quarter worth about $59,000. Jefferies Group LLC acquired a new position in AXT in the second quarter worth about $59,000. Finally, A.R.T. Advisors LLC acquired a new position in AXT in the second quarter worth about $85,000. Institutional investors and hedge funds own 58.07% of the company’s stock.

AXTI stock traded up $0.08 during midday trading on Wednesday, reaching $2.94. The company had a trading volume of 420 shares, compared to its average volume of 278,478. The stock has a 50 day moving average price of $3.54 and a 200 day moving average price of $4.22. AXT Inc has a fifty-two week low of $2.75 and a fifty-two week high of $6.70. The firm has a market capitalization of $117.60 million, a PE ratio of 12.19, a P/E/G ratio of 4.98 and a beta of 1.51.

AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. AXT had a return on equity of 1.68% and a net margin of 3.36%. The company had revenue of $24.80 million during the quarter, compared to the consensus estimate of $24.11 million. During the same period in the previous year, the firm posted $0.10 earnings per share. AXT’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, analysts anticipate that AXT Inc will post 0.04 EPS for the current fiscal year.

AXTI has been the subject of a number of research reports. ValuEngine upgraded AXT from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Northland Securities reiterated a “buy” rating on shares of AXT in a research note on Thursday, October 3rd. Dougherty & Co downgraded AXT from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Finally, Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $5.38.

AXT 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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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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