Royce & Associates LP Decreases Holdings in AXT, Inc. (NASDAQ:AXTI)

Royce & Associates LP cut its position in AXT, Inc. (NASDAQ:AXTI - Free Report) by 96.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,970 shares of the semiconductor company's stock after selling 706,739 shares during the quarter. Royce & Associates LP owned 0.06% of AXT worth $59,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXTI. Connor Clark & Lunn Investment Management Ltd. increased its stake in AXT by 10.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company's stock valued at $1,468,000 after acquiring an additional 54,891 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of AXT by 13.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company's stock valued at $3,575,000 after purchasing an additional 169,406 shares during the last quarter. Barclays PLC acquired a new position in shares of AXT during the 3rd quarter worth $85,000. Geode Capital Management LLC lifted its position in shares of AXT by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company's stock worth $1,123,000 after buying an additional 7,577 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in AXT in the fourth quarter valued at about $28,000. Institutional investors own 49.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AXTI shares. Wedbush reissued an "outperform" rating and set a $4.50 target price (down previously from $5.50) on shares of AXT in a research note on Friday, February 21st. Needham & Company LLC reiterated a "buy" rating and set a $5.00 price objective on shares of AXT in a research report on Friday, February 21st. Finally, B. Riley reissued a "buy" rating and issued a $6.00 price objective (up previously from $5.50) on shares of AXT in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, AXT has a consensus rating of "Moderate Buy" and an average price target of $5.10.

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AXT Stock Down 7.6 %

AXT stock traded down $0.13 during trading hours on Wednesday, reaching $1.59. 467,897 shares of the company's stock were exchanged, compared to its average volume of 535,416. The firm has a market capitalization of $72.50 million, a PE ratio of -5.68 and a beta of 2.17. The firm's 50 day simple moving average is $1.92 and its 200 day simple moving average is $2.13. AXT, Inc. has a twelve month low of $1.29 and a twelve month high of $5.01.

AXT (NASDAQ:AXTI - Get Free Report) last issued its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). The business had revenue of $25.11 million during the quarter, compared to the consensus estimate of $23.94 million. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. Analysts anticipate that AXT, Inc. will post -0.12 EPS for the current year.

AXT Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.