White Pine Capital LLC Purchases 5,246 Shares of AXT, Inc. (NASDAQ:AXTI)

White Pine Capital LLC lifted its position in AXT, Inc. (NASDAQ:AXTI) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 668,499 shares of the semiconductor company’s stock after acquiring an additional 5,246 shares during the quarter. White Pine Capital LLC owned 1.49% of AXT worth $1,451,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Canandaigua National Bank & Trust Co. purchased a new position in AXT during the 4th quarter valued at $28,000. Bleakley Financial Group LLC purchased a new stake in shares of AXT during the fourth quarter valued at $29,000. Atlas Brown Inc. bought a new position in shares of AXT in the fourth quarter worth about $42,000. Barclays PLC purchased a new position in AXT in the 3rd quarter worth about $85,000. Finally, Creative Planning purchased a new position in AXT in the 3rd quarter worth about $127,000. 49.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Northland Securities dropped their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of AXT in a research note on Friday, November 1st. Finally, Wedbush restated an “outperform” rating and set a $5.50 price objective on shares of AXT in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.20.

AXT Stock Performance

NASDAQ AXTI opened at $2.12 on Friday. The company has a market cap of $94.87 million, a PE ratio of -8.48 and a beta of 2.08. The firm’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.33. AXT, Inc. has a 52-week low of $1.73 and a 52-week high of $5.64.

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.