Creative Planning Takes $127,000 Position in AXT, Inc. (NASDAQ:AXTI)

Creative Planning purchased a new position in shares of AXT, Inc. (NASDAQ:AXTI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,448 shares of the semiconductor company’s stock, valued at approximately $127,000. Creative Planning owned about 0.12% of AXT as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of AXT by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock worth $10,540,000 after acquiring an additional 20,747 shares during the period. Kennedy Capital Management LLC grew its stake in AXT by 9.2% during the 1st quarter. Kennedy Capital Management LLC now owns 605,642 shares of the semiconductor company’s stock valued at $2,780,000 after acquiring an additional 50,975 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of AXT by 1,142.1% in the 2nd quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock valued at $1,276,000 after purchasing an additional 347,200 shares during the period. Acadian Asset Management LLC increased its holdings in shares of AXT by 833.3% in the 2nd quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock valued at $919,000 after purchasing an additional 243,226 shares during the period. Finally, Keystone Wealth Services LLC lifted its position in shares of AXT by 4.3% in the second quarter. Keystone Wealth Services LLC now owns 202,223 shares of the semiconductor company’s stock worth $684,000 after purchasing an additional 8,333 shares in the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on AXTI. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of AXT in a research note on Monday, July 29th. StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Finally, Northland Securities decreased their price target on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.30.

AXT Stock Down 2.4 %

Shares of NASDAQ:AXTI opened at $2.00 on Wednesday. AXT, Inc. has a twelve month low of $1.93 and a twelve month high of $5.64. The company has a market cap of $88.96 million, a price-to-earnings ratio of -8.00 and a beta of 2.22. The business has a 50 day moving average price of $2.38 and a 200 day moving average price of $2.97.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. The company had revenue of $23.65 million during the quarter, compared to the consensus estimate of $25.98 million. During the same quarter in the previous year, the business posted ($0.14) EPS. Analysts anticipate that AXT, Inc. will post -0.22 EPS for the current year.

About AXT

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.