Nano Cap New Millennium Growth Fund L P Acquires New Holdings in AXT Inc $AXTI

Key Points

• Nano Cap New Millennium Growth Fund L P disclosed a new position in AXT, buying 62,000 shares worth about $1.0 million in the fourth quarter.
• Institutional interest in AXT appears broad, with several other hedge funds also adding stakes; the article says 49.52% of the stock is owned by institutional investors.
• AXT’s latest quarter topped expectations, with EPS of -$0.01 versus -$0.04 expected and revenue of $26.92 million, while analysts currently rate the stock a Hold on average with a $22.80 target price.

Nano Cap New Millennium Growth Fund L P bought a new stake in shares of AXT Inc (NASDAQ:AXTI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 62,000 shares of the semiconductor company's stock, valued at approximately $1,014,000. Nano Cap New Millennium Growth Fund L P owned about 0.11% of AXT at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. CloudAlpha Capital Management Limited Hong Kong bought a new stake in AXT during the fourth quarter valued at approximately $22,738,000. Allworth Financial LP increased its stake in shares of AXT by 3,764.7% in the fourth quarter. Allworth Financial LP now owns 11,594 shares of the semiconductor company's stock worth $190,000 after buying an additional 11,294 shares during the period. Maytree Asset Management Ltd purchased a new position in shares of AXT in the fourth quarter worth $11,156,000. Cornerstone Investment Partners LLC purchased a new position in shares of AXT in the fourth quarter worth $275,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of AXT by 2,404.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 574,828 shares of the semiconductor company's stock worth $9,398,000 after buying an additional 551,876 shares during the period. 49.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXTI has been the topic of several analyst reports. Wall Street Zen raised shares of AXT from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of AXT in a research note on Wednesday, May 13th. B. Riley Financial lifted their target price on shares of AXT to $21.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Wedbush lifted their target price on shares of AXT from $8.50 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Finally, UBS Group set a $35.00 target price on shares of AXT in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.80.

AXT Trading Up 15.7%

Shares of AXT stock opened at $121.02 on Friday. The company's fifty day simple moving average is $75.60 and its two-hundred day simple moving average is $39.14. The company has a market cap of $7.92 billion, a P/E ratio of -390.37 and a beta of 1.75. AXT Inc has a 12-month low of $1.42 and a 12-month high of $134.00.

AXT (NASDAQ:AXTI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The business had revenue of $26.92 million for the quarter, compared to the consensus estimate of $26.22 million. AXT had a negative net margin of 14.69% and a negative return on equity of 5.71%. AXT has set its Q2 2026 guidance at 0.060-0.080 EPS. Analysts predict that AXT Inc will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at AXT

In other AXT news, Director Jesse Chen sold 15,000 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $47.13, for a total transaction of $706,950.00. Following the transaction, the director directly owned 123,612 shares of the company's stock, valued at approximately $5,825,833.56. The trade was a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Chang sold 20,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $38.53, for a total transaction of $770,600.00. Following the completion of the sale, the director directly owned 112,744 shares in the company, valued at $4,344,026.32. This represents a 15.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 502,278 shares of company stock valued at $21,196,754. 5.97% of the stock is currently owned by company insiders.

About AXT

AXT, Inc NASDAQ: AXTI is a global supplier of compound and single-element semiconductor substrates, offering a range of materials critical for high-performance electronic and optoelectronic devices. Founded in 1986 and headquartered in Fremont, California, AXT specializes in the development, manufacture and distribution of wafers composed of gallium arsenide (GaAs), indium phosphide (InP), gallium nitride (GaN) and other compound semiconductor materials. These substrates serve as the foundational platforms for devices used in data communications, wireless infrastructure, advanced computing, consumer electronics and photovoltaic applications.

AXT's product portfolio encompasses a variety of wafer sizes, dopant concentrations and crystal orientations, tailored to meet the precise specifications of its customers.

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