AXT Inc (NASDAQ:AXTI) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 1,133,300 shares, a decrease of 19.9% from the June 30th total of 1,415,100 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 263,200 shares, the short-interest ratio is currently 4.3 days.
A number of institutional investors have recently bought and sold shares of AXTI. BlackRock Inc. boosted its holdings in AXT by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,746,560 shares of the semiconductor company’s stock valued at $11,949,000 after acquiring an additional 79,457 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AXT by 13.2% in the fourth quarter. Bank of New York Mellon Corp now owns 196,886 shares of the semiconductor company’s stock valued at $856,000 after acquiring an additional 22,968 shares during the last quarter. Geode Capital Management LLC boosted its holdings in AXT by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 393,732 shares of the semiconductor company’s stock valued at $1,712,000 after acquiring an additional 17,921 shares during the last quarter. Bank of America Corp DE boosted its holdings in AXT by 26.8% in the fourth quarter. Bank of America Corp DE now owns 130,684 shares of the semiconductor company’s stock valued at $569,000 after acquiring an additional 27,646 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in AXT in the fourth quarter valued at about $209,000. Institutional investors and hedge funds own 57.23% of the company’s stock.
Several analysts have recently commented on AXTI shares. ValuEngine upgraded AXT from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut AXT from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.38.
AXT stock traded down $0.36 during mid-day trading on Wednesday, hitting $3.64. The stock had a trading volume of 8,261 shares, compared to its average volume of 300,623. The firm’s 50-day moving average is $4.04. The firm has a market cap of $158.83 million, a PE ratio of 15.31, a PEG ratio of 3.10 and a beta of 1.46. AXT has a 12 month low of $3.55 and a 12 month high of $7.95.
AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $24.11 million. AXT had a return on equity of 1.68% and a net margin of 3.36%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. Research analysts expect that AXT will post 0.08 earnings per share for the current year.
AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces 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, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.
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