AXT, Inc. (NASDAQ:AXTI) Holdings Cut by Foundry Partners LLC

Foundry Partners LLC decreased its stake in AXT, Inc. (NASDAQ:AXTI) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 274,475 shares of the semiconductor company’s stock after selling 4,945 shares during the quarter. Foundry Partners LLC owned approximately 0.63% of AXT worth $659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. James Investment Research Inc. acquired a new position in AXT in the 3rd quarter valued at $38,000. Barclays PLC acquired a new stake in shares of AXT during the 3rd quarter valued at about $60,000. White Pine Capital LLC lifted its holdings in AXT by 9.8% during the 3rd quarter. White Pine Capital LLC now owns 450,737 shares of the semiconductor company’s stock valued at $1,082,000 after purchasing an additional 40,347 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in AXT by 1.8% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 1,232,069 shares of the semiconductor company’s stock valued at $2,957,000 after purchasing an additional 21,973 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of AXT in the third quarter worth about $85,000. Institutional investors own 49.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AXTI. B. Riley boosted their target price on shares of AXT from $3.80 to $5.50 and gave the stock a “buy” rating in a research note on Friday, April 5th. Craig Hallum upped their price target on shares of AXT from $3.75 to $5.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Wedbush reissued an “outperform” rating and issued a $6.00 price objective on shares of AXT in a research report on Monday, April 8th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of AXT in a research report on Tuesday, April 9th. Finally, StockNews.com lowered shares of AXT from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.30.

AXT Price Performance

Shares of AXTI opened at $2.84 on Tuesday. AXT, Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $5.64. The company’s 50-day moving average is $3.93 and its 200-day moving average is $2.90.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The firm had revenue of $20.43 million for the quarter, compared to the consensus estimate of $17.62 million. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. As a group, equities research analysts anticipate that AXT, Inc. will post -0.1 EPS for the current fiscal 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.