Princeton Capital Management LLC Decreases Stock Position in AXT, Inc. (NASDAQ:AXTI)

Princeton Capital Management LLC lessened its stake in shares of AXT, Inc. (NASDAQ:AXTI) by 21.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 53,959 shares of the semiconductor company’s stock after selling 14,800 shares during the period. Princeton Capital Management LLC’s holdings in AXT were worth $131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AXTI. Byrne Asset Management LLC raised its holdings in AXT by 125.0% during the 2nd quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 7,500 shares during the period. SG Americas Securities LLC purchased a new stake in AXT in the first quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in AXT in the first quarter worth $77,000. State Board of Administration of Florida Retirement System purchased a new stake in AXT in the first quarter worth $93,000. Finally, Bailard Inc. purchased a new stake in AXT in the second quarter worth $122,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

AXT Stock Performance

Shares of AXT stock opened at $1.73 on Tuesday. AXT, Inc. has a 12 month low of $1.73 and a 12 month high of $5.64. The stock’s fifty day moving average price is $2.34 and its 200-day moving average price is $2.94.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $23.65 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted ($0.14) EPS. On average, equities research analysts forecast that AXT, Inc. will post -0.22 earnings per share for the current year.

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.