Princeton Capital Management LLC acquired a new stake in AXT Inc (NASDAQ:AXTI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 255,496 shares of the semiconductor company’s stock, valued at approximately $2,223,000. Princeton Capital Management LLC owned approximately 0.66% of AXT as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Voya Investment Management LLC purchased a new position in AXT in the 2nd quarter valued at $100,000. Capital Fund Management S.A. purchased a new position in shares of AXT during the 4th quarter worth $126,000. Nationwide Fund Advisors raised its holdings in shares of AXT by 278.0% during the 2nd quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 20,892 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of AXT by 15,013.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock worth $192,000 after acquiring an additional 30,026 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of AXT by 94.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock worth $197,000 after acquiring an additional 10,451 shares during the period. Institutional investors own 57.84% of the company’s stock.
Several research firms have recently commented on AXTI. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a report on Wednesday, December 27th. BidaskClub lowered AXT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. B. Riley reduced their price target on AXT from $8.75 to $8.25 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Finally, Dougherty & Co reiterated a “buy” rating on shares of AXT in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. AXT presently has an average rating of “Buy” and a consensus price target of $10.25.
AXT Inc (AXTI) remained flat at $$8.20 during midday trading on Wednesday. The company’s stock had a trading volume of 46,730 shares, compared to its average volume of 431,124. AXT Inc has a 52 week low of $5.10 and a 52 week high of $10.75. The firm has a market cap of $321.21, a PE ratio of 31.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $26.33 million for the quarter, compared to analyst estimates of $26.72 million. AXT had a net margin of 10.28% and a return on equity of 5.92%. AXT’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. equities research analysts predict that AXT Inc will post 0.4 EPS for the current year.
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AXT Company Profile
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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