Wells Fargo & Company MN Boosts Stake in AXT Inc (AXTI)

Wells Fargo & Company MN lifted its position in AXT Inc (NASDAQ:AXTI) by 20.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 432,725 shares of the semiconductor company’s stock after buying an additional 72,030 shares during the period. Wells Fargo & Company MN owned approximately 1.13% of AXT worth $2,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Gotham Asset Management LLC bought a new stake in shares of AXT in the 1st quarter worth $101,000. SG Americas Securities LLC bought a new stake in shares of AXT in the 1st quarter worth $105,000. Geode Capital Management LLC raised its stake in shares of AXT by 12.1% in the 1st quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock worth $1,252,000 after buying an additional 23,341 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of AXT in the 1st quarter worth $173,000. Finally, KBC Group NV bought a new stake in shares of AXT in the 2nd quarter worth $196,000. 61.87% of the stock is currently owned by institutional investors.

Shares of AXT Inc (AXTI) opened at 8.95 on Friday. The firm has a market capitalization of $343.47 million, a price-to-earnings ratio of 44.75 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 stock’s 50 day moving average price is $8.79 and its 200-day moving average price is $7.41.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.05. The company had revenue of $23.56 million for the quarter, compared to the consensus estimate of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. On average, equities research analysts predict that AXT Inc will post $0.24 EPS for the current fiscal year.

In other news, Director David C. Chang sold 9,000 shares of the stock in a transaction 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 transaction, the director now owns 164,807 shares of the company’s stock, valued at approximately $1,450,301.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Morris S. Young sold 92,896 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 1,213,200 shares in the company, valued at approximately $10,360,728. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Wells Fargo & Company MN Boosts Stake in AXT Inc (AXTI)” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/22/wells-fargo-company-mn-boosts-stake-in-axt-inc-axti.html.

A number of research firms have recently commented on AXTI. Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of AXT in a research report on Sunday, September 17th. B. Riley reaffirmed a “neutral” rating and set a $8.50 target price on shares of AXT in a research report on Tuesday, August 1st. BidaskClub raised AXT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Finally, BWS Financial boosted their target price on AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $9.65.

About AXT

AXT, Inc (AXT) is a developer and producer of

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Gotham Asset Management LLC bought a new stake in shares of AXT in the 1st quarter worth $101,000. SG Americas Securities LLC bought a new stake in shares of AXT in the 1st quarter worth $105,000. Geode Capital Management LLC raised its stake in shares of AXT by 12.1% in the 1st quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock worth $1,252,000 after buying an additional 23,341 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of AXT in the 1st quarter worth $173,000. Finally, KBC Group NV bought a new stake in shares of AXT in the 2nd quarter worth $196,000. 61.87% of the stock is currently owned by institutional investors.

Shares of AXT Inc (AXTI) opened at 8.95 on Friday. The firm has a market capitalization of $343.47 million, a price-to-earnings ratio of 44.75 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 stock’s 50 day moving average price is $8.79 and its 200-day moving average price is $7.41.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.05. The company had revenue of $23.56 million for the quarter, compared to the consensus estimate of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. On average, equities research analysts predict that AXT Inc will post $0.24 EPS for the current fiscal year.

In other news, Director David C. Chang sold 9,000 shares of the stock in a transaction 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 transaction, the director now owns 164,807 shares of the company’s stock, valued at approximately $1,450,301.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Morris S. Young sold 92,896 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 1,213,200 shares in the company, valued at approximately $10,360,728. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Wells Fargo & Company MN Boosts Stake in AXT Inc (AXTI)” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/22/wells-fargo-company-mn-boosts-stake-in-axt-inc-axti.html.

A number of research firms have recently commented on AXTI. Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of AXT in a research report on Sunday, September 17th. B. Riley reaffirmed a “neutral” rating and set a $8.50 target price on shares of AXT in a research report on Tuesday, August 1st. BidaskClub raised AXT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Finally, BWS Financial boosted their target price on AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $9.65.

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.

Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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