Pacific Ridge Capital Partners LLC increased its holdings in shares of AXT Inc (NASDAQ:AXTI) by 27.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,265,074 shares of the semiconductor company’s stock after acquiring an additional 276,290 shares during the period. AXT comprises about 1.5% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 16th biggest position. Pacific Ridge Capital Partners LLC owned 3.16% of AXT worth $5,630,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of AXTI. BNP Paribas Arbitrage SA grew its stake in shares of AXT by 507.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 6,625 shares in the last quarter. Brinker Capital Inc. boosted its holdings in AXT by 299.2% during the 1st quarter. Brinker Capital Inc. now owns 45,823 shares of the semiconductor company’s stock valued at $204,000 after acquiring an additional 34,345 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in AXT during the 4th quarter valued at $209,000. Rhumbline Advisers boosted its holdings in AXT by 42.5% during the 4th quarter. Rhumbline Advisers now owns 52,855 shares of the semiconductor company’s stock valued at $230,000 after acquiring an additional 15,765 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in AXT during the 1st quarter valued at $251,000. Institutional investors and hedge funds own 57.72% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded AXT from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. ValuEngine cut AXT from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.25.
AXTI stock traded up $0.29 during trading on Wednesday, hitting $3.86. The company had a trading volume of 369,616 shares, compared to its average volume of 330,811. AXT Inc has a 1-year low of $3.55 and a 1-year high of $9.38. The company has a 50-day simple moving average of $4.44. The stock has a market cap of $143.16 million, a price-to-earnings ratio of 16.08, a PEG ratio of 1.98 and a beta of 1.54.
AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $20.20 million during the quarter, compared to the consensus estimate of $20.69 million. AXT had a return on equity of 2.97% and a net margin of 5.78%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. Analysts forecast that AXT Inc will post 0.13 earnings per share for the current fiscal year.
AXT Company Profile
AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.
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