Empowered Funds LLC Sells 32,392 Shares of AXT, Inc. (NASDAQ:AXTI)

Empowered Funds LLC lessened its position in shares of AXT, Inc. (NASDAQ:AXTI) by 19.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 138,499 shares of the semiconductor company’s stock after selling 32,392 shares during the quarter. Empowered Funds LLC’s holdings in AXT were worth $335,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AXTI. SG Americas Securities LLC acquired a new stake in shares of AXT during the first quarter worth $52,000. Byrne Asset Management LLC boosted its position in AXT by 125.0% during the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 7,500 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in AXT during the 1st quarter worth about $93,000. Bailard Inc. acquired a new stake in AXT during the second quarter worth approximately $122,000. Finally, Creative Planning bought a new position in shares of AXT during the 3rd quarter worth approximately $127,000. Institutional investors own 49.52% of the company’s stock.

Analyst Ratings Changes

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

AXT Stock Up 4.6 %

Shares of AXTI stock opened at $2.06 on Tuesday. The company has a 50 day moving average of $2.30 and a 200-day moving average of $2.88. AXT, Inc. has a 12-month low of $1.73 and a 12-month high of $5.64. The firm has a market cap of $92.19 million, a P/E ratio of -8.24 and a beta of 2.22.

AXT (NASDAQ:AXTI) last released its quarterly earnings data 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 business 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 period last year, the company earned ($0.14) earnings per share. As a group, equities analysts expect 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.