Point72 Asset Management L.P. Buys New Stake in AXT, Inc. (NASDAQ:AXTI)

Point72 Asset Management L.P. acquired a new stake in shares of AXT, Inc. (NASDAQ:AXTI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 289,411 shares of the semiconductor company's stock, valued at approximately $628,000. Point72 Asset Management L.P. owned 0.65% of AXT at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXTI. Pacific Ridge Capital Partners LLC increased its position 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 purchasing an additional 766,122 shares during the period. Kennedy Capital Management LLC boosted its stake in AXT by 13.1% during the fourth quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company's stock valued at $1,987,000 after buying an additional 106,121 shares in the last quarter. White Pine Capital LLC grew its holdings in AXT by 0.8% during the fourth quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company's stock worth $1,451,000 after acquiring an additional 5,246 shares during the period. D. E. Shaw & Co. Inc. raised its position in AXT by 18.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 606,365 shares of the semiconductor company's stock worth $1,316,000 after acquiring an additional 96,195 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in AXT by 2.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 302,964 shares of the semiconductor company's stock worth $657,000 after acquiring an additional 7,165 shares in the last quarter. Institutional investors own 49.52% of the company's stock.

Wall Street Analysts Forecast Growth

AXTI has been the topic of several recent research reports. Wall Street Zen raised shares of AXT to a "sell" rating in a research note on Friday, April 25th. B. Riley decreased 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 price objective on shares of AXT in a research note on Friday, February 21st. Finally, Wedbush restated an "outperform" rating and issued a $4.50 target price on shares of AXT in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.75.

AXT Trading Down 1.6%

NASDAQ AXTI traded down $0.03 on Wednesday, reaching $1.52. The stock had a trading volume of 30,911 shares, compared to its average volume of 400,077. The company has a market capitalization of $69.09 million, a price-to-earnings ratio of -5.41 and a beta of 1.96. AXT, Inc. has a 1 year low of $1.13 and a 1 year high of $4.03. The business has a 50 day moving average price of $1.39 and a 200 day moving average price of $1.80.

AXT (NASDAQ:AXTI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The semiconductor company reported ($0.20) 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%. On average, analysts anticipate that AXT, Inc. will post -0.12 earnings per share for the current fiscal year.

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.