Allianz Asset Management GmbH reduced its stake in shares of AXT Inc (NASDAQ:AXTI) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 460,705 shares of the semiconductor company’s stock after selling 19,519 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.18% of AXT worth $4,008,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of AXTI. Voya Investment Management LLC acquired a new stake in shares of AXT during the second quarter worth approximately $100,000. Capital Fund Management S.A. acquired a new stake in AXT in the fourth quarter valued at approximately $126,000. The Manufacturers Life Insurance Company lifted its stake in AXT by 15,013.0% in the second quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock valued at $192,000 after acquiring an additional 30,026 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in AXT by 94.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock valued at $197,000 after acquiring an additional 10,451 shares during the last quarter. Finally, FNY Partners Fund LP acquired a new stake in AXT in the fourth quarter valued at approximately $197,000. Institutional investors and hedge funds own 57.84% of the company’s stock.
A number of analysts have issued reports on AXTI shares. BidaskClub cut shares of AXT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research note on Wednesday, December 27th. B. Riley reduced their target price on shares of AXT from $8.75 to $8.25 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Dougherty & Co reiterated a “buy” rating on shares of AXT in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. AXT has an average rating of “Buy” and an average price target of $10.25.
Shares of AXT stock opened at $7.85 on Monday. The stock has a market cap of $309.38, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04. AXT Inc has a one year low of $5.10 and a one year high of $10.75.
AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. The firm had revenue of $26.33 million during the quarter, compared to analysts’ expectations of $26.72 million. AXT had a net margin of 10.28% and a return on equity of 5.81%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. equities research analysts expect that AXT Inc will post 0.4 EPS for the current fiscal year.
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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