Ladenburg Thalmann Financial Services Inc. Boosts Holdings in AXT Inc (AXTI)
Ladenburg Thalmann Financial Services Inc. grew its stake in shares of AXT Inc (NASDAQ:AXTI) by 94.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,550 shares of the semiconductor company’s stock after buying an additional 10,451 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned approximately 0.06% of AXT worth $197,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of AXTI. Vanguard Group Inc. grew its stake in shares of AXT by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,457,029 shares of the semiconductor company’s stock worth $8,450,000 after buying an additional 36,065 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of AXT by 12.1% during the first quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock worth $1,252,000 after buying an additional 23,341 shares during the last quarter. Morgan Stanley grew its stake in shares of AXT by 157.3% during the first quarter. Morgan Stanley now owns 202,469 shares of the semiconductor company’s stock worth $1,175,000 after buying an additional 123,768 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of AXT during the second quarter worth $429,000. Finally, Rhumbline Advisers bought a new stake in shares of AXT during the second quarter worth $253,000. 60.36% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of AXT in a research note on Thursday, October 26th. Zacks Investment Research cut shares of AXT from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. B. Riley reaffirmed a “hold” rating and set a $8.50 target price on shares of AXT in a research note on Tuesday, October 24th. Finally, BidaskClub cut shares of AXT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $9.90.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $28.17 million for the quarter, compared to analyst estimates of $27.05 million. AXT had a net margin of 9.96% and a return on equity of 5.67%. AXT’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share. equities research analysts expect that AXT Inc will post 0.25 earnings per share for the current fiscal year.
In other news, VP Robert G. Ochrym sold 8,125 shares of AXT stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $8.80, for a total transaction of $71,500.00. Following the transaction, the vice president now owns 44,125 shares in the company, valued at $388,300. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Morris S. Young sold 30,000 shares of AXT stock in a transaction on Monday, November 20th. The stock was sold at an average price of $9.76, for a total transaction of $292,800.00. Following the transaction, the chief executive officer now owns 1,211,970 shares in the company, valued at approximately $11,828,827.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,375 shares of company stock worth $1,216,235. 6.90% of the stock is owned by company insiders.
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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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