AXT Inc $AXTI Shares Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has increased its ownership in AXT Inc by 75% in Q1, holding 530,269 shares valued at approximately $748,000.
• AXT has attracted interest from various institutional investors, with hedge funds and institutional ownership now at 49.52%.
• Research analysts maintain a consensus "Buy" rating for AXT, despite target price reductions, with the average target price set at $4.60.

Jacobs Levy Equity Management Inc. lifted its stake in shares of AXT Inc (NASDAQ:AXTI - Free Report) by 75.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 530,269 shares of the semiconductor company's stock after acquiring an additional 227,333 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.16% of AXT worth $748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in AXT in the fourth quarter worth about $628,000. GSA Capital Partners LLP increased its holdings in shares of AXT by 43.2% in the 1st quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company's stock valued at $752,000 after acquiring an additional 160,858 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of AXT in the 4th quarter valued at approximately $60,000. Man Group plc purchased a new position in AXT during the fourth quarter worth $67,000. Finally, Park Edge Advisors LLC lifted its stake in shares of AXT by 25.1% during the first quarter. Park Edge Advisors LLC now owns 62,500 shares of the semiconductor company's stock worth $88,000 after purchasing an additional 12,550 shares in the last quarter. Hedge funds and other institutional investors own 49.52% of the company's stock.

AXT Stock Up 0.5%

NASDAQ:AXTI traded up $0.02 during mid-day trading on Thursday, hitting $3.96. 713,418 shares of the stock traded hands, compared to its average volume of 880,476. AXT Inc has a 12-month low of $1.13 and a 12-month high of $4.19. The company has a market cap of $182.64 million, a PE ratio of -7.20 and a beta of 2.10. The business's 50-day moving average price is $2.65 and its 200 day moving average price is $1.97.

Analyst Ratings Changes

A number of research firms have weighed in on AXTI. Wedbush cut their target price on AXT from $4.25 to $4.10 and set an "outperform" rating for the company in a research report on Friday, August 1st. B. Riley lowered their price target on shares of AXT from $4.50 to $4.30 and set a "buy" rating for the company in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $4.60.

AXT Company 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.