Keystone Wealth Services LLC Sells 8,823 Shares of AXT, Inc. (NASDAQ:AXTI)

Keystone Wealth Services LLC trimmed its stake in shares of AXT, Inc. (NASDAQ:AXTI) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,400 shares of the semiconductor company’s stock after selling 8,823 shares during the quarter. Keystone Wealth Services LLC owned about 0.44% of AXT worth $468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 2,500 shares during the period. SG Americas Securities LLC bought a new stake in shares of AXT in the first quarter valued at about $52,000. Byrne Asset Management LLC boosted its position in shares of AXT by 125.0% in the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 7,500 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of AXT in the first quarter valued at about $77,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of AXT in the first quarter valued at about $93,000. 49.52% of the stock is owned by institutional investors.

AXT Price Performance

AXTI stock traded down $0.11 during midday trading on Tuesday, reaching $2.39. The company had a trading volume of 201,457 shares, compared to its average volume of 1,085,912. The company has a market capitalization of $106.11 million, a price-to-earnings ratio of -5.98 and a beta of 2.23. The stock has a 50 day moving average price of $2.46 and a 200-day moving average price of $3.13. AXT, Inc. has a 1-year low of $1.89 and a 1-year high of $5.64.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $27.92 million during the quarter, compared to the consensus estimate of $26.50 million. AXT had a negative return on equity of 5.87% and a negative net margin of 14.75%. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. As a group, research analysts anticipate that AXT, Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AXTI shares. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of AXT in a research report on Friday, August 2nd. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of AXT in a research report on Monday, July 29th. Finally, StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

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.