JPMorgan Chase & Co. Sells 22,337 Shares of AXT, Inc. (NASDAQ:AXTI)

JPMorgan Chase & Co. lowered its stake in AXT, Inc. (NASDAQ:AXTI) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,976 shares of the semiconductor company’s stock after selling 22,337 shares during the period. JPMorgan Chase & Co. owned approximately 0.35% of AXT worth $382,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Barclays PLC acquired a new stake in AXT in the 3rd quarter worth approximately $85,000. Creative Planning acquired a new stake in shares of AXT in the third quarter worth $127,000. Assenagon Asset Management S.A. boosted its holdings in shares of AXT by 26.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock worth $154,000 after buying an additional 13,376 shares during the period. Cubist Systematic Strategies LLC acquired a new position in AXT in the 2nd quarter valued at $468,000. Finally, Squarepoint Ops LLC grew its stake in AXT by 206.8% in the 2nd quarter. Squarepoint Ops LLC now owns 166,072 shares of the semiconductor company’s stock valued at $561,000 after buying an additional 111,934 shares during the last quarter. Institutional investors own 49.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday, November 1st. Northland Securities cut their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.30.

AXT Stock Performance

NASDAQ:AXTI opened at $2.08 on Thursday. The firm’s 50-day moving average is $2.18 and its 200-day moving average is $2.44. The company has a market cap of $93.08 million, a price-to-earnings ratio of -8.32 and a beta of 2.10. AXT, Inc. has a 52-week low of $1.73 and a 52-week high of $5.64.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) 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 firm had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Equities analysts predict 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.