Keystone Wealth Services LLC Has $195,000 Stock Holdings in AXT Inc $AXTI

Key Points

• Keystone Wealth Services LLC reduced its stake in AXT Inc by 51.7%, holding 93,400 shares worth $195,000 as of the last SEC filing.
• AXT Inc's stock recently traded at $3.94, with a 12-month range between $1.13 and $4.19, and the company has a market capitalization of $181.71 million.
• Despite recent price target adjustments by analysts, AXT maintains a consensus rating of "Buy" with an average price target of $4.60.

Keystone Wealth Services LLC cut its holdings in AXT Inc (NASDAQ:AXTI - Free Report) by 51.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,400 shares of the semiconductor company's stock after selling 100,000 shares during the quarter. Keystone Wealth Services LLC owned about 0.20% of AXT worth $195,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in AXT during the 4th quarter worth $628,000. Jacobs Levy Equity Management Inc. lifted its position in shares of AXT by 75.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company's stock worth $748,000 after purchasing an additional 227,333 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of AXT by 43.2% during the 1st quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company's stock worth $752,000 after purchasing an additional 160,858 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of AXT by 18.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 606,365 shares of the semiconductor company's stock worth $1,316,000 after buying an additional 96,195 shares during the last quarter. Finally, Man Group plc acquired a new position in shares of AXT during the fourth quarter worth approximately $67,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Price Performance

Shares of NASDAQ AXTI traded up $0.38 during midday trading on Friday, hitting $4.34. The stock had a trading volume of 2,034,098 shares, compared to its average volume of 882,054. The company's 50-day simple moving average is $2.69 and its 200 day simple moving average is $2.00. The firm has a market cap of $200.16 million, a P/E ratio of -7.89 and a beta of 2.10. AXT Inc has a fifty-two week low of $1.13 and a fifty-two week high of $4.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXTI. B. Riley cut their target price on shares of AXT from $4.50 to $4.30 and set a "buy" rating for the company in a research note on Thursday, July 10th. Wedbush cut their price objective on shares of AXT from $4.25 to $4.10 and set an "outperform" rating for the company in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $4.60.

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.