AXT Inc (NASDAQ:AXTI) Stake Raised by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its stake in AXT Inc (NASDAQ:AXTI) by 216.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,687 shares of the semiconductor company’s stock after buying an additional 106,426 shares during the period. Goldman Sachs Group Inc. owned about 0.46% of AXT worth $903,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware bought a new stake in shares of AXT during the first quarter valued at $1,655,000. SG Americas Securities LLC bought a new stake in shares of AXT during the first quarter valued at $105,000. Pinnacle Associates Ltd. bought a new stake in shares of AXT during the first quarter valued at $493,000. Pacific Ridge Capital Partners LLC increased its stake in shares of AXT by 35.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 782,534 shares of the semiconductor company’s stock valued at $4,539,000 after buying an additional 203,674 shares in the last quarter. Finally, Alambic Investment Management L.P. increased its stake in shares of AXT by 86.9% in the first quarter. Alambic Investment Management L.P. now owns 143,811 shares of the semiconductor company’s stock valued at $834,000 after buying an additional 66,879 shares in the last quarter. Institutional investors and hedge funds own 56.73% of the company’s stock.
AXT Inc (AXTI) traded up 2.961% during mid-day trading on Monday, reaching $7.825. 149,221 shares of the company traded hands. AXT Inc has a 52-week low of $3.77 and a 52-week high of $9.50. The stock has a market capitalization of $300.30 million, a PE ratio of 39.125 and a beta of 1.08. The firm’s 50-day moving average is $7.33 and its 200 day moving average is $6.69.
AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. AXT had a return on equity of 4.61% and a net margin of 8.15%. The firm had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $22.55 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts expect that AXT Inc will post $0.24 earnings per share for the current year.
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Several analysts recently commented on the stock. BidaskClub upgraded shares of AXT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. B. Riley reiterated a “neutral” rating and issued a $8.50 price target on shares of AXT in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research report on Friday, July 28th. BWS Financial upped their price target on shares of AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Dougherty & Co reiterated a “buy” rating on shares of AXT in a research report on Saturday, June 17th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $9.04.
In related news, Director Leonard J. Leblanc sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $7.27, for a total transaction of $36,350.00. Following the transaction, the director now directly owns 149,134 shares in the company, valued at $1,084,204.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Morris S. Young sold 92,896 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $8.54, for a total value of $793,331.84. Following the transaction, the chief executive officer now owns 1,213,200 shares in the company, valued at $10,360,728. The disclosure for this sale can be found here. Insiders have sold 114,396 shares of company stock worth $960,857 over the last 90 days. 6.90% of the stock is currently owned by company insiders.
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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