Barclays PLC Takes $85,000 Position in AXT, Inc. (NASDAQ:AXTI)

Barclays PLC purchased a new position in AXT, Inc. (NASDAQ:AXTI) in the third quarter, Holdings Channel.com reports. The fund purchased 34,778 shares of the semiconductor company’s stock, valued at approximately $85,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Systematic Financial Management LP raised its position in shares of AXT by 13.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock worth $3,575,000 after acquiring an additional 169,406 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in AXT by 10.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock worth $1,468,000 after purchasing an additional 54,891 shares during the period. GSA Capital Partners LLP raised its holdings in AXT by 25.1% in the third quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock worth $730,000 after purchasing an additional 60,623 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in AXT by 26.5% during the third quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 13,376 shares during the period. Finally, Creative Planning bought a new stake in shares of AXT during the 3rd quarter valued at $127,000. 49.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Northland Securities cut their price objective on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.30.

AXT Price Performance

AXTI opened at $2.15 on Thursday. AXT, Inc. has a 1 year low of $1.73 and a 1 year high of $5.64. The stock has a 50-day moving average price of $2.14 and a 200-day moving average price of $2.58. The firm has a market cap of $96.21 million, a PE ratio of -8.60 and a beta of 2.10.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 4.58% and a negative net margin of 10.73%. During the same quarter in the prior year, the company posted ($0.14) EPS. As a group, sell-side analysts anticipate that AXT, Inc. will post -0.22 EPS for the current year.

About AXT

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.