American Century Companies Inc. Sells 6,395 Shares of AXT, Inc. (NASDAQ:AXTI)

American Century Companies Inc. lowered its position in shares of AXT, Inc. (NASDAQ:AXTI) by 21.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,044 shares of the semiconductor company’s stock after selling 6,395 shares during the quarter. American Century Companies Inc. owned 0.05% of AXT worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 2,500 shares during the period. Quadrature Capital Ltd raised its stake in shares of AXT by 46.6% during the 4th quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 11,892 shares during the period. Nomura Holdings Inc. purchased a new position in shares of AXT in the 4th quarter worth about $96,000. Keystone Wealth Services LLC grew its position in AXT by 30.4% during the first quarter. Keystone Wealth Services LLC now owns 193,890 shares of the semiconductor company’s stock valued at $890,000 after buying an additional 45,204 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in AXT in the first quarter worth about $77,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AXTI. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of AXT in a research report on Friday, August 2nd. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of AXT in a research report on Monday, July 29th. Finally, StockNews.com cut AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, AXT currently has an average rating of “Moderate Buy” and an average target price of $5.38.

AXT Trading Up 4.1 %

AXTI opened at $2.53 on Friday. AXT, Inc. has a 12 month low of $1.89 and a 12 month high of $5.64. The company has a market cap of $112.33 million, a PE ratio of -6.33 and a beta of 2.23. The company has a 50 day moving average of $2.54 and a 200 day moving average of $3.24.

AXT (NASDAQ:AXTI) last announced its quarterly 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 company had revenue of $27.92 million during the quarter, compared to analysts’ expectations of $26.50 million. During the same period in the previous year, the business earned ($0.12) earnings per share. Research analysts forecast that AXT, Inc. will post -0.19 earnings per share 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.