Pacific Ridge Capital Partners LLC Has $5.66 Million Stake in AXT Inc (AXTI)

Pacific Ridge Capital Partners LLC grew its position in AXT Inc (NASDAQ:AXTI) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 791,219 shares of the semiconductor company’s stock after purchasing an additional 46,741 shares during the period. AXT comprises about 1.5% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 19th largest position. Pacific Ridge Capital Partners LLC owned about 2.00% of AXT worth $5,657,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AXTI. Systematic Financial Management LP raised its holdings in shares of AXT by 27.6% in the second quarter. Systematic Financial Management LP now owns 1,142,463 shares of the semiconductor company’s stock valued at $8,054,000 after purchasing an additional 246,999 shares during the last quarter. Royce & Associates LP raised its holdings in shares of AXT by 14.2% in the second quarter. Royce & Associates LP now owns 1,679,684 shares of the semiconductor company’s stock valued at $11,842,000 after purchasing an additional 209,075 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of AXT by 37.3% in the third quarter. Foundry Partners LLC now owns 641,385 shares of the semiconductor company’s stock valued at $4,586,000 after purchasing an additional 174,160 shares during the last quarter. BlackRock Inc. raised its holdings in shares of AXT by 7.0% in the second quarter. BlackRock Inc. now owns 2,653,369 shares of the semiconductor company’s stock valued at $18,706,000 after purchasing an additional 172,795 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in shares of AXT by 118.1% in the second quarter. Rice Hall James & Associates LLC now owns 208,354 shares of the semiconductor company’s stock valued at $1,469,000 after purchasing an additional 112,825 shares during the last quarter. Institutional investors own 54.36% of the company’s stock.

Several analysts have recently commented on AXTI shares. Zacks Investment Research upgraded shares of AXT from a “sell” rating to a “hold” rating in a report on Monday, November 19th. ValuEngine downgraded shares of AXT from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of AXT from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, B. Riley lowered their target price on shares of AXT from $10.00 to $8.50 and set a “buy” rating for the company in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. AXT presently has a consensus rating of “Hold” and a consensus target price of $9.00.

AXTI traded up $0.01 during trading on Friday, hitting $5.21. 600 shares of the company traded hands, compared to its average volume of 335,738. The firm has a market cap of $209.55 million, a P/E ratio of 19.88, a PEG ratio of 1.05 and a beta of 1.14. AXT Inc has a one year low of $5.15 and a one year high of $9.45.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $28.63 million during the quarter, compared to analyst estimates of $28.14 million. AXT had a net margin of 13.00% and a return on equity of 7.32%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities analysts predict that AXT Inc will post 0.34 EPS for the current year.

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AXT Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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