Wells Fargo & Company MN cut its position in AXT Inc (NASDAQ:AXTI) by 22.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 362,507 shares of the semiconductor company’s stock after selling 107,406 shares during the quarter. Wells Fargo & Company MN’s holdings in AXT were worth $3,153,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System bought a new position in AXT in the second quarter worth about $418,000. Ameriprise Financial Inc. raised its holdings in AXT by 52.8% in the third quarter. Ameriprise Financial Inc. now owns 276,758 shares of the semiconductor company’s stock worth $2,533,000 after purchasing an additional 95,622 shares in the last quarter. Granite Point Capital Management L.P. raised its holdings in AXT by 309.5% in the fourth quarter. Granite Point Capital Management L.P. now owns 172,000 shares of the semiconductor company’s stock worth $1,496,000 after purchasing an additional 130,000 shares in the last quarter. Hood River Capital Management LLC raised its holdings in AXT by 7.8% in the fourth quarter. Hood River Capital Management LLC now owns 1,393,817 shares of the semiconductor company’s stock worth $12,126,000 after purchasing an additional 100,889 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in AXT by 8.7% in the third quarter. Bank of New York Mellon Corp now owns 294,400 shares of the semiconductor company’s stock worth $2,693,000 after purchasing an additional 23,567 shares in the last quarter. Institutional investors and hedge funds own 56.12% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. BidaskClub lowered AXT from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Zacks Investment Research lowered AXT from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Dougherty & Co restated a “buy” rating on shares of AXT in a research note on Thursday, February 22nd. Finally, B. Riley dropped their price target on AXT from $8.75 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. AXT currently has an average rating of “Buy” and a consensus target price of $10.25.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. AXT had a return on equity of 5.81% and a net margin of 10.28%. The business had revenue of $26.33 million for the quarter, compared to analyst estimates of $26.72 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The company’s revenue was up 29.9% on a year-over-year basis. research analysts forecast that AXT Inc will post 0.4 EPS for the current fiscal year.
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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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