Creative Planning Makes New $127,000 Investment in AXT, Inc. (NASDAQ:AXTI)

Creative Planning acquired a new stake in AXT, Inc. (NASDAQ:AXTI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 52,448 shares of the semiconductor company’s stock, valued at approximately $127,000.

A number of other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC boosted its position in AXT by 833.3% in the second quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock valued at $919,000 after buying an additional 243,226 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of AXT by 1,142.1% in the 2nd quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock valued at $1,276,000 after purchasing an additional 347,200 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of AXT during the 2nd quarter worth approximately $468,000. Bailard Inc. bought a new stake in shares of AXT during the second quarter worth approximately $122,000. Finally, Quadrature Capital Ltd lifted its holdings in AXT by 208.6% in the first quarter. Quadrature Capital Ltd now owns 115,388 shares of the semiconductor company’s stock valued at $530,000 after buying an additional 78,001 shares during the period. 49.52% of the stock is owned by institutional investors and hedge funds.

AXT Trading Down 2.4 %

Shares of AXTI opened at $2.00 on Wednesday. AXT, Inc. has a 12 month low of $1.93 and a 12 month high of $5.64. The stock has a market capitalization of $88.96 million, a price-to-earnings ratio of -8.00 and a beta of 2.22. The firm has a fifty day simple moving average of $2.38 and a 200 day simple moving average of $2.97.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $23.65 million during the quarter, compared to the consensus estimate of $25.98 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. During the same period last year, the business earned ($0.14) EPS. As a group, research analysts predict that AXT, Inc. will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Northland Securities lowered their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 1st. StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of AXT in a report on Monday, July 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of AXT in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.30.

AXT Company 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.