ClariVest Asset Management LLC cut its position in shares of AXT Inc (NASDAQ:AXTI) by 41.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,800 shares of the semiconductor company’s stock after selling 54,600 shares during the period. ClariVest Asset Management LLC owned 0.20% of AXT worth $693,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Gotham Asset Management LLC boosted its holdings in AXT by 35.5% in the 2nd quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 6,182 shares during the period. Granite Point Capital Management L.P. boosted its holdings in AXT by 17.5% in the 2nd quarter. Granite Point Capital Management L.P. now owns 47,000 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 7,000 shares during the period. Voya Investment Management LLC bought a new stake in AXT in the 2nd quarter valued at about $100,000. Verition Fund Management LLC lifted its holdings in shares of AXT by 23.7% during the 2nd quarter. Verition Fund Management LLC now owns 100,000 shares of the semiconductor company’s stock worth $635,000 after acquiring an additional 19,145 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in shares of AXT by 278.0% during the 2nd quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 20,892 shares during the period. Institutional investors and hedge funds own 60.36% of the company’s stock.
AXT Inc (NASDAQ AXTI) traded up $0.10 on Thursday, hitting $8.55. 507,458 shares of the stock traded hands, compared to its average volume of 600,500. AXT Inc has a 52 week low of $4.56 and a 52 week high of $10.75. The firm has a market capitalization of $332.52, a PE ratio of 37.29, a PEG ratio of 2.01 and a beta of 1.11.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The company had revenue of $28.17 million during the quarter, compared to analysts’ expectations of $27.05 million. AXT had a net margin of 9.96% and a return on equity of 5.67%. AXT’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. equities research analysts expect that AXT Inc will post 0.25 EPS for the current fiscal year.
In other AXT news, CEO Morris S. Young sold 30,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $9.76, for a total value of $292,800.00. Following the transaction, the chief executive officer now directly owns 1,211,970 shares of the company’s stock, valued at $11,828,827.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert G. Ochrym sold 8,125 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $8.80, for a total transaction of $71,500.00. Following the completion of the transaction, the vice president now directly owns 44,125 shares in the company, valued at $388,300. The disclosure for this sale can be found here. Insiders sold 133,375 shares of company stock valued at $1,216,235 over the last 90 days. Corporate insiders own 6.90% of the company’s stock.
A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of AXT from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. B. Riley increased their price objective on shares of AXT from $8.50 to $8.75 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective (up previously from $10.00) on shares of AXT in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $9.95.
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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