289,411 Shares in AXT, Inc. (NASDAQ:AXTI) Bought by Point72 Asset Management L.P.

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacific Ridge Capital Partners LLC increased its stake in shares of AXT by 65.4% during the fourth 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 in the last quarter. Empowered Funds LLC increased its stake in shares of AXT by 5.2% during the fourth quarter. Empowered Funds LLC now owns 145,664 shares of the semiconductor company's stock valued at $316,000 after purchasing an additional 7,165 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of AXT during the fourth quarter valued at approximately $29,000. Barclays PLC bought a new position in shares of AXT during the third quarter valued at approximately $85,000. Finally, Virtu Financial LLC bought a new position in shares of AXT during the fourth quarter valued at approximately $54,000. Institutional investors own 49.52% of the company's stock.

Analysts Set New Price Targets

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

AXT Stock Up 4.4%

AXTI stock traded up $0.06 during mid-day trading on Tuesday, hitting $1.52. The company had a trading volume of 342,101 shares, compared to its average volume of 401,404. The company has a market capitalization of $69.50 million, a price-to-earnings ratio of -5.48 and a beta of 1.96. AXT, Inc. has a 12-month low of $1.13 and a 12-month high of $4.03. The company 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 announced its earnings results on Thursday, May 1st. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. As a group, analysts expect that AXT, Inc. will post -0.12 EPS for the current 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.