Rhumbline Advisers Takes Position in AXT Inc (AXTI)
Rhumbline Advisers bought a new position in AXT Inc (NASDAQ:AXTI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 39,804 shares of the semiconductor company’s stock, valued at approximately $253,000. Rhumbline Advisers owned approximately 0.10% of AXT as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of AXTI. Wells Fargo & Company MN increased its stake in shares of 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 purchasing an additional 91,945 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 112,818 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of AXT in the first quarter worth about $1,054,000. SG Americas Securities LLC purchased a new position in shares of AXT in the first quarter worth about $105,000. Finally, Royce & Associates LP increased its stake in shares of AXT by 16.0% in the first quarter. Royce & Associates LP now owns 809,743 shares of the semiconductor company’s stock worth $4,697,000 after purchasing an additional 111,886 shares in the last quarter. Hedge funds and other institutional investors own 61.87% of the company’s stock.
Several research firms have recently weighed in on AXTI. B. Riley reiterated a “neutral” rating and issued a $8.50 target price on shares of AXT in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub downgraded shares of AXT from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 7th. Dougherty & Co reiterated a “buy” rating on shares of AXT in a research note on Saturday, June 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of AXT in a research note on Sunday, September 17th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.65.
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AXT Inc (NASDAQ:AXTI) opened at 9.35 on Friday. The stock has a 50 day moving average of $8.54 and a 200 day moving average of $7.26. The stock has a market cap of $358.82 million, a P/E ratio of 46.75 and a beta of 1.16. AXT Inc has a 1-year low of $4.35 and a 1-year high of $9.70.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. AXT had a net margin of 8.15% and a return on equity of 4.61%. The firm had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $22.55 million. During the same quarter in the prior year, the business earned $0.03 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that AXT Inc will post $0.24 EPS for the current fiscal year.
In other AXT news, Director David C. Chang sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were 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 approximately $1,450,301.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Morris S. Young sold 92,896 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $8.54, for a total transaction of $793,331.84. Following the sale, the chief executive officer now owns 1,213,200 shares in the company, valued at approximately $10,360,728. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
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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