Verition Fund Management LLC Has $635,000 Stake in AXT Inc (AXTI)

Verition Fund Management LLC lifted its holdings in AXT Inc (NASDAQ:AXTI) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 100,000 shares of the semiconductor company’s stock after purchasing an additional 19,145 shares during the quarter. Verition Fund Management LLC owned about 0.26% of AXT worth $635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AXTI. Wells Fargo & Company MN grew its position in shares of AXT by 34.2% in the 1st quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock valued at $2,092,000 after purchasing an additional 91,945 shares during the period. Bank of New York Mellon Corp grew its position in shares of AXT by 314.4% in the 1st quarter. Bank of New York Mellon Corp now owns 148,703 shares of the semiconductor company’s stock valued at $862,000 after purchasing an additional 112,818 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of AXT in the 1st quarter valued at approximately $1,054,000. SG Americas Securities LLC acquired a new position in shares of AXT in the 1st quarter valued at approximately $105,000. Finally, Royce & Associates LP grew its position in shares of AXT by 16.0% in the 1st quarter. Royce & Associates LP now owns 809,743 shares of the semiconductor company’s stock valued at $4,697,000 after purchasing an additional 111,886 shares during the period. Institutional investors and hedge funds own 61.87% of the company’s stock.

In other AXT news, Director David C. Chang sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total value of $79,200.00. Following the completion of the sale, the director now owns 164,807 shares of the company’s stock, valued at $1,450,301.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Morris S. Young sold 92,896 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.54, for a total value of $793,331.84. Following the completion of the sale, the chief executive officer now directly owns 1,213,200 shares of the company’s stock, valued at approximately $10,360,728. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Several equities analysts recently issued reports on AXTI shares. BidaskClub upgraded AXT from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. B. Riley reiterated a “neutral” rating and issued a $7.00 price objective on shares of AXT in a research report on Friday, July 21st. BWS Financial boosted their price objective on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.65.

AXT Inc (NASDAQ AXTI) traded down 0.829% during trading on Tuesday, reaching $8.975. The company’s stock had a trading volume of 22,482 shares. The stock has a market cap of $344.43 million, a PE ratio of 44.875 and a beta of 1.16. AXT Inc has a 12 month low of $4.35 and a 12 month high of $9.70. The company’s 50-day moving average is $8.62 and its 200-day moving average is $7.31.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. AXT had a return on equity of 4.61% and a net margin of 8.15%. The firm had revenue of $23.56 million during the quarter, compared to analysts’ expectations of $22.55 million. During the same quarter last year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts expect that AXT Inc will post $0.24 EPS for the current fiscal year.

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Several other institutional investors and hedge funds have also modified their holdings of AXTI. Wells Fargo & Company MN grew its position in shares of AXT by 34.2% in the 1st quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock valued at $2,092,000 after purchasing an additional 91,945 shares during the period. Bank of New York Mellon Corp grew its position in shares of AXT by 314.4% in the 1st quarter. Bank of New York Mellon Corp now owns 148,703 shares of the semiconductor company’s stock valued at $862,000 after purchasing an additional 112,818 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of AXT in the 1st quarter valued at approximately $1,054,000. SG Americas Securities LLC acquired a new position in shares of AXT in the 1st quarter valued at approximately $105,000. Finally, Royce & Associates LP grew its position in shares of AXT by 16.0% in the 1st quarter. Royce & Associates LP now owns 809,743 shares of the semiconductor company’s stock valued at $4,697,000 after purchasing an additional 111,886 shares during the period. Institutional investors and hedge funds own 61.87% of the company’s stock.

In other AXT news, Director David C. Chang sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total value of $79,200.00. Following the completion of the sale, the director now owns 164,807 shares of the company’s stock, valued at $1,450,301.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Morris S. Young sold 92,896 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.54, for a total value of $793,331.84. Following the completion of the sale, the chief executive officer now directly owns 1,213,200 shares of the company’s stock, valued at approximately $10,360,728. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Several equities analysts recently issued reports on AXTI shares. BidaskClub upgraded AXT from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. B. Riley reiterated a “neutral” rating and issued a $7.00 price objective on shares of AXT in a research report on Friday, July 21st. BWS Financial boosted their price objective on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.65.

AXT Inc (NASDAQ AXTI) traded down 0.829% during trading on Tuesday, reaching $8.975. The company’s stock had a trading volume of 22,482 shares. The stock has a market cap of $344.43 million, a PE ratio of 44.875 and a beta of 1.16. AXT Inc has a 12 month low of $4.35 and a 12 month high of $9.70. The company’s 50-day moving average is $8.62 and its 200-day moving average is $7.31.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. AXT had a return on equity of 4.61% and a net margin of 8.15%. The firm had revenue of $23.56 million during the quarter, compared to analysts’ expectations of $22.55 million. During the same quarter last year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts expect that AXT Inc will post $0.24 EPS for the current fiscal year.

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About AXT

AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.

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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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