Bank of New York Mellon Corp Buys 23,567 Shares of AXT Inc (AXTI)

Bank of New York Mellon Corp raised its stake in AXT Inc (NASDAQ:AXTI) by 8.7% during the third quarter, Holdings Channel reports. The institutional investor owned 294,400 shares of the semiconductor company’s stock after buying an additional 23,567 shares during the quarter. Bank of New York Mellon Corp’s holdings in AXT were worth $2,693,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC bought a new stake in AXT in the second quarter valued at $100,000. Gotham Asset Management LLC increased its holdings in shares of AXT by 35.5% during the second quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 6,182 shares during the period. Nationwide Fund Advisors increased its holdings in shares of AXT by 278.0% during the second quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 20,892 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of AXT by 15,013.0% during the second quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock valued at $192,000 after purchasing an additional 30,026 shares during the period. Finally, KBC Group NV acquired a new position in shares of AXT during the second quarter valued at $196,000. Institutional investors own 60.36% of the company’s stock.

A number of research analysts have recently commented on AXTI shares. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of AXT in a report on Sunday, September 17th. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, October 25th. BidaskClub lowered AXT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Finally, B. Riley reissued a “hold” rating and set a $8.50 price target on shares of AXT in a report on Tuesday, October 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.90.

In related news, CEO Morris S. Young sold 30,000 shares of AXT stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $9.76, for a total transaction of $292,800.00. Following the transaction, the chief executive officer now directly owns 1,211,970 shares of the company’s stock, valued at $11,828,827.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert G. Ochrym sold 25,250 shares of AXT stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $8.94, for a total value of $225,735.00. Following the transaction, the vice president now directly owns 10,750 shares in the company, valued at $96,105. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,375 shares of company stock worth $1,216,235. 6.90% of the stock is owned by corporate insiders.

AXT Inc (NASDAQ:AXTI) opened at $8.95 on Friday. The company has a market capitalization of $348.07, a price-to-earnings ratio of 37.29, a PEG ratio of 1.17 and a beta of 1.11. AXT Inc has a fifty-two week low of $4.90 and a fifty-two week high of $10.75.

AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $28.17 million for the quarter, compared to analyst estimates of $27.05 million. AXT had a return on equity of 5.67% and a net margin of 9.96%. AXT’s revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. research analysts anticipate that AXT Inc will post 0.25 EPS for the current fiscal year.

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About AXT

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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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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