Barclays PLC Acquires Shares of 34,778 AXT, Inc. (NASDAQ:AXTI)

Barclays PLC bought a new position in AXT, Inc. (NASDAQ:AXTI) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 34,778 shares of the semiconductor company’s stock, valued at approximately $85,000. Barclays PLC owned about 0.08% of AXT as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AXTI. Creative Planning purchased a new stake in AXT during the third quarter valued at about $127,000. Assenagon Asset Management S.A. boosted its stake in AXT by 26.5% in the third 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 in the last quarter. Cubist Systematic Strategies LLC bought a new position in AXT during the second quarter valued at approximately $468,000. Squarepoint Ops LLC raised its stake in shares of AXT by 206.8% during the second quarter. Squarepoint Ops LLC now owns 166,072 shares of the semiconductor company’s stock worth $561,000 after acquiring an additional 111,934 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of AXT by 25.1% in the 3rd quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock valued at $730,000 after purchasing an additional 60,623 shares in the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

AXT Stock Performance

AXTI opened at $2.30 on Friday. The stock has a market capitalization of $102.93 million, a PE ratio of -9.20 and a beta of 2.10. The stock’s 50 day moving average price is $2.16 and its 200-day moving average price is $2.47. 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 data on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $23.65 million for the quarter, compared to analysts’ expectations of $25.98 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. During the same period in the previous year, the firm posted ($0.14) earnings per share. Research analysts forecast that AXT, Inc. will post -0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday, November 1st. Northland Securities decreased their price target on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.30.

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.