Pacific Ridge Capital Partners LLC Sells 41,869 Shares of AXT Inc $AXTI

Pacific Ridge Capital Partners LLC reduced its stake in shares of AXT Inc (NASDAQ:AXTI) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,793,797 shares of the semiconductor company’s stock after selling 41,869 shares during the period. AXT accounts for approximately 1.8% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 14th biggest position. Pacific Ridge Capital Partners LLC’s holdings in AXT were worth $8,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. White Pine Capital LLC grew its position in shares of AXT by 2.8% in the 2nd quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock valued at $1,798,000 after buying an additional 23,467 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of AXT by 2.8% in the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after acquiring an additional 8,039 shares during the period. Creative Planning bought a new stake in AXT in the second quarter valued at approximately $86,000. Wesbanco Bank Inc. acquired a new stake in AXT during the 3rd quarter valued at approximately $112,000. Finally, Assenagon Asset Management S.A. increased its position in AXT by 12.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 2,540 shares during the period. 49.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AXTI. B. Riley Financial boosted their target price on shares of AXT to $21.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Northland Securities set a $20.00 target price on AXT in a report on Monday, December 22nd. Needham & Company LLC downgraded AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. UBS Group set a $35.00 price target on shares of AXT in a research report on Tuesday, February 17th. Finally, Wall Street Zen raised AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.80.

Insiders Place Their Bets

In other news, Director David C. Chang sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total transaction of $371,000.00. Following the completion of the transaction, the director directly owned 132,744 shares in the company, valued at $1,969,920.96. The trade was a 15.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Morris S. Young sold 35,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $12.05, for a total value of $421,750.00. Following the transaction, the chief executive officer owned 2,495,564 shares of the company’s stock, valued at approximately $30,071,546.20. The trade was a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 110,000 shares of company stock valued at $1,369,000 over the last 90 days. Company insiders own 8.80% of the company’s stock.

AXT Trading Up 16.8%

AXTI opened at $40.97 on Thursday. AXT Inc has a 12 month low of $1.13 and a 12 month high of $41.19. The company has a 50 day moving average of $21.07 and a 200 day moving average of $11.67. The company has a market cap of $2.26 billion, a PE ratio of -85.35 and a beta of 1.96.

AXT (NASDAQ:AXTI) last released its quarterly earnings data on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $23.04 million for the quarter, compared to the consensus estimate of $24.24 million. AXT had a negative net margin of 24.07% and a negative return on equity of 10.59%. Research analysts forecast that AXT Inc will post -0.12 earnings per share for the current fiscal year.

AXT Profile

AXT, Inc (NASDAQ: AXTI) is a global supplier of compound and single-element semiconductor substrates, offering a range of materials critical for high-performance electronic and optoelectronic devices. Founded in 1986 and headquartered in Fremont, California, AXT specializes in the development, manufacture and distribution of wafers composed of gallium arsenide (GaAs), indium phosphide (InP), gallium nitride (GaN) and other compound semiconductor materials. These substrates serve as the foundational platforms for devices used in data communications, wireless infrastructure, advanced computing, consumer electronics and photovoltaic applications.

AXT’s product portfolio encompasses a variety of wafer sizes, dopant concentrations and crystal orientations, tailored to meet the precise specifications of its customers.