Brandywine Global Investment Management LLC reduced its position in AXT Inc (NASDAQ:AXTI) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,541 shares of the semiconductor company’s stock after selling 559 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of AXT worth $156,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Voya Investment Management LLC purchased a new stake in shares of AXT during the 2nd quarter valued at $100,000. Gotham Asset Management LLC purchased a new stake in shares of AXT during the 1st quarter valued at $101,000. SG Americas Securities LLC purchased a new stake in shares of AXT during the 1st quarter valued at $105,000. BlueCrest Capital Management Ltd purchased a new position in AXT in the 1st quarter worth $173,000. Finally, Nationwide Fund Advisors raised its stake in AXT by 278.0% in the 2nd 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. Institutional investors own 61.87% of the company’s stock.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $23.56 million for the quarter, compared to analyst estimates of $22.55 million. AXT had a net margin of 8.15% and a return on equity of 4.61%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share.
A number of equities analysts recently issued reports on AXTI shares. Dougherty & Co restated a “buy” rating on shares of AXT in a research note on Saturday, June 17th. B. Riley restated a “neutral” rating and set a $7.00 target price on shares of AXT in a research report on Friday, July 21st. BWS Financial raised their target price on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock 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 five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $9.65.
In other news, CEO Morris S. Young sold 92,896 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were 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 of the company’s stock, valued at approximately $10,360,728. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David C. Chang sold 9,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $8.80, for a total transaction of $79,200.00. Following the completion of the transaction, the director now directly owns 164,807 shares in the company, valued at approximately $1,450,301.60. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
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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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