50,896 Shares in AXT, Inc. (NASDAQ:AXTI) Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new position in AXT, Inc. (NASDAQ:AXTI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 50,896 shares of the semiconductor company’s stock, valued at approximately $424,000. Los Angeles Capital Management LLC owned approximately 0.12% of AXT as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AXTI. Victory Capital Management Inc. increased its holdings in AXT by 34.5% in the 2nd quarter. Victory Capital Management Inc. now owns 17,095 shares of the semiconductor company’s stock worth $188,000 after buying an additional 4,384 shares in the last quarter. Redmond Asset Management LLC bought a new stake in AXT in the 2nd quarter worth about $1,160,000. Campbell & CO Investment Adviser LLC bought a new stake in AXT in the 2nd quarter worth about $117,000. Eqis Capital Management Inc. bought a new stake in AXT in the 2nd quarter worth about $147,000. Finally, Systematic Financial Management LP increased its holdings in AXT by 9.7% in the 2nd quarter. Systematic Financial Management LP now owns 679,700 shares of the semiconductor company’s stock worth $7,463,000 after buying an additional 59,975 shares in the last quarter. Institutional investors own 53.73% of the company’s stock.

AXTI stock opened at $8.54 on Friday. AXT, Inc. has a twelve month low of $6.53 and a twelve month high of $15.84. The stock has a market cap of $365.26 million, a P/E ratio of 26.69 and a beta of 2.21. The business’s 50-day moving average price is $8.57 and its 200-day moving average price is $8.92.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Tuesday, October 26th. The semiconductor company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). AXT had a net margin of 10.79% and a return on equity of 6.47%. The company had revenue of $34.58 million for the quarter, compared to analysts’ expectations of $35.10 million. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, equities analysts forecast that AXT, Inc. will post 0.33 earnings per share for the current year.

A number of research firms have issued reports on AXTI. Wedbush began coverage on AXT in a research note on Thursday, November 4th. They set an “outperform” rating and a $11.00 price target for the company. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Friday. Finally, B. Riley restated a “neutral” rating on shares of AXT in a research note on Monday, October 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $14.08.

About AXT

AXT, Inc engages in the design, development, manufacture and distribution of compound and single element semiconductor substrates. It also sells specialty material substrates and raw materials used to make substrates and other related products. The company was founded by Morris S. Young and Davis Zhang in December 1986 and is headquartered in Fremont, CA.

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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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