Goldman Sachs Group Inc. increased its position in shares of AXT Inc (NASDAQ:AXTI) by 216.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 155,687 shares of the semiconductor company’s stock after buying an additional 106,426 shares during the period. Goldman Sachs Group Inc.’s holdings in AXT were worth $903,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of AXTI. Dimensional Fund Advisors LP boosted its stake in AXT by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,593,023 shares of the semiconductor company’s stock worth $15,040,000 after buying an additional 341,318 shares during the last quarter. Vanguard Group Inc. boosted its stake in AXT by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,457,029 shares of the semiconductor company’s stock worth $8,450,000 after buying an additional 36,065 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in AXT during the first quarter worth about $6,084,000. Hood River Capital Management LLC bought a new stake in AXT during the first quarter worth about $5,699,000. Finally, Royce & Associates LP boosted its stake in AXT by 16.0% in the first quarter. Royce & Associates LP now owns 809,743 shares of the semiconductor company’s stock worth $4,697,000 after buying an additional 111,886 shares during the last quarter. Institutional investors own 56.73% of the company’s stock.
Shares of AXT Inc (NASDAQ AXTI) traded up 2.961% on Monday, hitting $7.825. The stock had a trading volume of 149,221 shares. The company has a market cap of $300.30 million, a price-to-earnings ratio of 39.125 and a beta of 1.08. The firm has a 50 day moving average price of $7.33 and a 200-day moving average price of $6.69. AXT Inc has a 52 week low of $3.77 and a 52 week high of $9.50.
AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $23.56 million during the quarter, compared to the consensus estimate of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. Analysts anticipate that AXT Inc will post $0.24 EPS for the current year.
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AXTI has been the topic of a number of recent research reports. Dougherty & Co reiterated a “buy” rating on shares of AXT in a research note on Saturday, June 17th. Zacks Investment Research cut AXT from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. B. Riley reiterated a “neutral” rating and issued a $7.00 target price on shares of AXT in a research note 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 note on Thursday, July 27th. Finally, BidaskClub upgraded AXT from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. AXT has an average rating of “Buy” and a consensus target price of $9.04.
In related news, Director David C. Chang sold 9,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total value of $79,200.00. Following the completion of the sale, the director now owns 164,807 shares in the company, valued at $1,450,301.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Morris S. Young sold 92,896 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $8.54, for a total value of $793,331.84. Following the completion of the sale, the chief executive officer now owns 1,213,200 shares of the company’s stock, valued at approximately $10,360,728. The disclosure for this sale can be found here. Insiders sold 114,396 shares of company stock valued at $960,857 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.
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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