EAM Investors LLC cut its stake in AXT Inc (NASDAQ:AXTI) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 603,454 shares of the semiconductor company’s stock after selling 69,052 shares during the period. AXT accounts for about 0.6% of EAM Investors LLC’s investment portfolio, making the stock its 29th biggest position. EAM Investors LLC owned approximately 1.58% of AXT worth $3,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Granite Point Capital Management L.P. raised its stake in shares of AXT by 17.5% in the second quarter. Granite Point Capital Management L.P. now owns 47,000 shares of the semiconductor company’s stock worth $298,000 after acquiring an additional 7,000 shares during the last quarter. Gotham Asset Management LLC bought a new position in shares of AXT in the first quarter worth about $101,000. SG Americas Securities LLC bought a new position in shares of AXT in the first quarter worth about $105,000. Nationwide Fund Advisors raised its stake in shares of AXT by 278.0% in the second 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 last quarter. Finally, Geode Capital Management LLC raised its stake in shares of AXT by 12.1% in the first quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock worth $1,252,000 after acquiring an additional 23,341 shares during the last quarter. 61.87% of the stock is owned by institutional investors.

AXT Inc (NASDAQ AXTI) traded up 1.76% during midday trading on Friday, hitting $8.65. 304,951 shares of the company were exchanged. The stock has a market capitalization of $331.96 million, a PE ratio of 43.25 and a beta of 1.13. The firm’s 50-day moving average price is $7.92 and its 200-day moving average price is $6.94. AXT Inc has a one year low of $4.35 and a one year high of $9.50.

AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. AXT had a net margin of 8.15% and a return on equity of 4.61%. The business had revenue of $23.56 million for the quarter, compared to the consensus estimate of $22.55 million. During the same period last year, the company earned $0.03 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that AXT Inc will post $0.24 earnings per share for the current year.

In related news, CEO Morris S. Young sold 92,896 shares of AXT stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.54, for a total transaction of $793,331.84. Following the sale, the chief executive officer now directly owns 1,213,200 shares in the company, valued at approximately $10,360,728. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David C. Chang sold 9,000 shares of AXT stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total transaction of $79,200.00. Following the sale, the director now owns 164,807 shares in the company, valued at $1,450,301.60. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

A number of equities analysts have weighed in on AXTI shares. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research note on Saturday, June 17th. B. Riley reaffirmed a “neutral” rating and issued a $7.00 target price on shares of AXT in a research note on Friday, July 21st. BWS Financial boosted their target price on shares of AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research raised 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 Friday, September 15th. Finally, BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. AXT has a consensus rating of “Buy” and an average target price of $9.21.

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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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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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