Dimensional Fund Advisors LP increased its position in AXT Inc (NASDAQ:AXTI) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,082,666 shares of the semiconductor company’s stock after buying an additional 205,384 shares during the quarter. Dimensional Fund Advisors LP owned 7.93% of AXT worth $28,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in AXT in the 2nd quarter worth approximately $418,000. Rhumbline Advisers bought a new stake in AXT in the 2nd quarter worth approximately $253,000. Schwab Charles Investment Management Inc. bought a new stake in AXT in the 2nd quarter worth approximately $429,000. New York State Common Retirement Fund lifted its position in AXT by 233.8% in the 2nd quarter. New York State Common Retirement Fund now owns 608,093 shares of the semiconductor company’s stock worth $3,861,000 after buying an additional 425,912 shares during the last quarter. Finally, TIAA CREF Investment Management LLC bought a new stake in AXT in the 2nd quarter worth approximately $639,000. Institutional investors own 60.36% of the company’s stock.
Shares of AXT Inc (AXTI) opened at $8.95 on Thursday. AXT Inc has a 12-month low of $5.10 and a 12-month high of $10.75. The firm has a market capitalization of $340.30, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11.
AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. AXT had a return on equity of 5.67% and a net margin of 9.96%. The firm had revenue of $28.17 million during the quarter, compared to the consensus estimate of $27.05 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s revenue was up 28.8% on a year-over-year basis. equities analysts expect that AXT Inc will post 0.25 earnings per share for the current fiscal year.
In other AXT news, CEO Morris S. Young sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $8.86, for a total value of $443,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert G. Ochrym sold 8,125 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $8.80, for a total value of $71,500.00. Following the completion of the sale, the vice president now owns 44,125 shares of the company’s stock, valued at approximately $388,300. The disclosure for this sale can be found here. Insiders sold 133,375 shares of company stock valued at $1,216,235 in the last quarter. Corporate insiders own 6.90% of the company’s stock.
A number of analysts recently weighed in on AXTI shares. Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. B. Riley restated a “hold” rating and issued a $8.50 target price on shares of AXT in a research report on Tuesday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price (up previously from $10.00) on shares of AXT in a research report on Thursday, October 26th. Finally, BidaskClub downgraded AXT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $9.90.
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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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