Geode Capital Management LLC Buys 7,577 Shares of AXT, Inc. (NASDAQ:AXTI)

Geode Capital Management LLC increased its stake in shares of AXT, Inc. (NASDAQ:AXTI) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,022 shares of the semiconductor company’s stock after buying an additional 7,577 shares during the quarter. Geode Capital Management LLC’s holdings in AXT were worth $1,123,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AXTI. Barclays PLC purchased a new stake in shares of AXT in the third quarter valued at about $85,000. Systematic Financial Management LP grew its position in 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 purchasing an additional 169,406 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in AXT by 10.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock valued at $1,468,000 after buying an additional 54,891 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of AXT by 25.1% during the 3rd quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock worth $730,000 after buying an additional 60,623 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of AXT by 26.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock worth $154,000 after buying an additional 13,376 shares during the last quarter. 49.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AXTI has been the topic of a number of recent analyst reports. Northland Securities dropped their price target on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of AXT in a research note on Friday, November 1st. Finally, StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.30.

AXT Trading Down 4.4 %

Shares of NASDAQ AXTI opened at $2.15 on Friday. The stock has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $2.57. AXT, Inc. has a 1-year low of $1.73 and a 1-year high of $5.64. The firm has a market cap of $96.21 million, a price-to-earnings ratio of -8.60 and a beta of 2.10.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The firm had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. During the same quarter in the previous year, the company posted ($0.14) EPS. Analysts forecast that AXT, Inc. will post -0.22 EPS for the current year.

AXT 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.