AXT, Inc. (NASDAQ:AXTI) Stock Holdings Lifted by Acadian Asset Management LLC

Acadian Asset Management LLC raised its position in AXT, Inc. (NASDAQ:AXTI) by 833.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,416 shares of the semiconductor company’s stock after purchasing an additional 243,226 shares during the quarter. Acadian Asset Management LLC owned approximately 0.61% of AXT worth $919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Legato Capital Management LLC purchased a new position in AXT in the second quarter valued at about $503,000. Bailard Inc. purchased a new position in AXT in the second quarter valued at about $122,000. Byrne Asset Management LLC grew its stake in AXT by 125.0% in the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 7,500 shares in the last quarter. Keystone Wealth Services LLC grew its stake in AXT by 4.3% in the second quarter. Keystone Wealth Services LLC now owns 202,223 shares of the semiconductor company’s stock valued at $684,000 after purchasing an additional 8,333 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its stake in AXT by 9.2% in the first quarter. Kennedy Capital Management LLC now owns 605,642 shares of the semiconductor company’s stock valued at $2,780,000 after purchasing an additional 50,975 shares in the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AXTI. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of AXT in a research report on Monday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of AXT in a research report on Friday, August 2nd. Finally, StockNews.com cut AXT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

AXT Stock Performance

NASDAQ AXTI opened at $2.32 on Tuesday. The stock has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $3.47. AXT, Inc. has a twelve month low of $1.89 and a twelve month high of $5.64. The stock has a market capitalization of $103.01 million, a PE ratio of -5.80 and a beta of 2.23.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. AXT had a negative return on equity of 5.87% and a negative net margin of 14.75%. The firm had revenue of $27.92 million during the quarter, compared to the consensus estimate of $26.50 million. During the same quarter in the prior year, the company earned ($0.12) EPS. As a group, equities research analysts forecast that AXT, Inc. will post -0.19 EPS for the current fiscal year.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.