XTX Topco Ltd Sells 137,909 Shares of AXT, Inc. (NASDAQ:AXTI)

XTX Topco Ltd lowered its stake in AXT, Inc. (NASDAQ:AXTI) by 79.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,817 shares of the semiconductor company’s stock after selling 137,909 shares during the quarter. XTX Topco Ltd’s holdings in AXT were worth $87,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AXTI. Assenagon Asset Management S.A. grew its stake in AXT by 26.5% in the third quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after purchasing an additional 13,376 shares in the last quarter. ClariVest Asset Management LLC grew its stake in shares of AXT by 21.1% in the second quarter. ClariVest Asset Management LLC now owns 195,920 shares of the semiconductor company’s stock valued at $662,000 after buying an additional 34,120 shares in the last quarter. Bailard Inc. acquired a new position in AXT during the second quarter worth $122,000. Creative Planning bought a new stake in AXT during the third quarter worth $127,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in AXT by 10.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock valued at $1,468,000 after acquiring an additional 54,891 shares during the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Stock Up 2.8 %

AXT stock opened at $2.18 on Friday. The stock has a market cap of $97.56 million, a P/E ratio of -8.72 and a beta of 2.15. AXT, Inc. has a twelve month low of $1.73 and a twelve month high of $5.64. The company’s 50-day moving average price is $2.23 and its two-hundred day moving average price is $2.70.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same period in the prior year, the business posted ($0.14) earnings per share. Equities analysts anticipate that AXT, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXTI. Northland Securities dropped their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of AXT in a research note on Friday, November 1st. Finally, StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.30.

About AXT

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.