Algert Global LLC Has $103,000 Stake in AXT, Inc. (NASDAQ:AXTI)

Algert Global LLC cut its position in AXT, Inc. (NASDAQ:AXTI) by 39.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,340 shares of the semiconductor company’s stock after selling 20,111 shares during the quarter. Algert Global LLC owned 0.07% of AXT worth $103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in AXT by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock valued at $10,540,000 after acquiring an additional 20,747 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of AXT by 9.2% in the 1st 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 during the last quarter. Renaissance Technologies LLC raised its holdings in shares of AXT by 1,142.1% during the 2nd quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock worth $1,276,000 after buying an additional 347,200 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of AXT by 833.3% during the 2nd quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock worth $919,000 after buying an additional 243,226 shares during the last quarter. Finally, Keystone Wealth Services LLC boosted 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 buying an additional 8,333 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of AXT in a research note on Friday, August 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of AXT in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.38.

AXT Price Performance

Shares of NASDAQ:AXTI opened at $2.58 on Friday. The company has a market capitalization of $114.76 million, a price-to-earnings ratio of -8.06 and a beta of 2.23. AXT, Inc. has a 1 year low of $1.89 and a 1 year high of $5.64. The business’s 50-day moving average is $2.46 and its 200-day moving average is $3.17.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping 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 business had revenue of $27.92 million for the quarter, compared to analyst estimates of $26.50 million. During the same quarter in the prior year, the company earned ($0.12) earnings per share. Analysts anticipate that AXT, Inc. will post -0.19 EPS for the current year.

AXT 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.