Dimensional Fund Advisors LP Sells 942,309 Shares of AXT, Inc. (NASDAQ:AXTI)

Dimensional Fund Advisors LP decreased its stake in shares of AXT, Inc. (NASDAQ:AXTI - Free Report) by 94.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 58,975 shares of the semiconductor company's stock after selling 942,309 shares during the period. Dimensional Fund Advisors LP owned 0.13% of AXT worth $128,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Pacific Ridge Capital Partners LLC increased its holdings in shares of AXT by 65.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company's stock valued at $4,204,000 after acquiring an additional 766,122 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of AXT by 13.1% during the 4th quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company's stock valued at $1,987,000 after acquiring an additional 106,121 shares during the last quarter. White Pine Capital LLC increased its holdings in shares of AXT by 0.8% during the 4th quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company's stock valued at $1,451,000 after acquiring an additional 5,246 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of AXT by 5.2% during the 4th quarter. Empowered Funds LLC now owns 145,664 shares of the semiconductor company's stock valued at $316,000 after acquiring an additional 7,165 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of AXT during the 4th quarter valued at about $145,000. Institutional investors and hedge funds own 49.52% of the company's stock.

AXT Trading Down 7.0%

AXTI traded down $0.11 during midday trading on Friday, reaching $1.46. The company's stock had a trading volume of 263,580 shares, compared to its average volume of 401,296. The stock has a market cap of $66.58 million, a P/E ratio of -5.21 and a beta of 1.96. The company has a fifty day simple moving average of $1.40 and a 200 day simple moving average of $1.81. AXT, Inc. has a twelve month low of $1.13 and a twelve month high of $4.03.

AXT (NASDAQ:AXTI - Get Free Report) last released its earnings results on Thursday, May 1st. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.07). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. Sell-side analysts expect that AXT, Inc. will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

AXTI has been the topic of a number of analyst reports. Wall Street Zen raised AXT to a "sell" rating in a report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and set a $5.00 price objective on shares of AXT in a report on Friday, February 21st. B. Riley lowered their target price on AXT from $6.00 to $4.50 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $4.50 target price on shares of AXT in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, AXT currently has an average rating of "Moderate Buy" and an average price target of $4.75.

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.