Bleakley Financial Group LLC Invests $29,000 in AXT, Inc. (NASDAQ:AXTI)

Bleakley Financial Group LLC acquired a new position in shares of AXT, Inc. (NASDAQ:AXTI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,500 shares of the semiconductor company’s stock, valued at approximately $29,000.

Several other hedge funds have also added to or reduced their stakes in the business. Creative Planning purchased a new position in shares of AXT in the third quarter valued at about $127,000. Assenagon Asset Management S.A. lifted its position in AXT by 26.5% during the third quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after purchasing an additional 13,376 shares during the period. GSA Capital Partners LLP increased its holdings in AXT by 25.1% during the third quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock valued at $730,000 after buying an additional 60,623 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in AXT by 10.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock valued at $1,468,000 after buying an additional 54,891 shares during the last quarter. Finally, Systematic Financial Management LP increased its holdings in AXT by 13.0% during the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after buying an additional 169,406 shares during the last quarter. 49.52% of the stock is owned by institutional investors.

AXT Trading Up 5.1 %

NASDAQ:AXTI opened at $2.05 on Thursday. The company has a market capitalization of $91.74 million, a P/E ratio of -8.20 and a beta of 2.08. The business’s 50-day moving average is $2.18 and its 200 day moving average is $2.33. AXT, Inc. has a 12 month low of $1.73 and a 12 month high of $5.64.

Analyst Upgrades and Downgrades

A number of analysts have commented on AXTI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of AXT in a report on Friday, November 1st. Northland Securities decreased their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Wedbush restated an “outperform” rating and set a $5.50 target price on shares of AXT in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.20.

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.