Atlas Brown Inc. Makes New Investment in AXT, Inc. (NASDAQ:AXTI)

Atlas Brown Inc. bought a new position in shares of AXT, Inc. (NASDAQ:AXTI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,575 shares of the semiconductor company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in shares of AXT by 833.3% in the second quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock valued at $919,000 after purchasing an additional 243,226 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of AXT by 1,142.1% during the second quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock worth $1,276,000 after purchasing an additional 347,200 shares during the period. Cubist Systematic Strategies LLC bought a new position in AXT during the 2nd quarter worth $468,000. Creative Planning bought a new stake in shares of AXT in the third quarter valued at about $127,000. Finally, Geode Capital Management LLC increased its position in AXT by 1.7% during the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock worth $1,123,000 after acquiring an additional 7,577 shares during the period. 49.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Northland Securities decreased their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of AXT in a research note on Friday, November 1st. Finally, StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.30.

AXT Stock Performance

Shares of AXTI traded down $0.05 during mid-day trading on Friday, reaching $2.10. 125,193 shares of the company were exchanged, compared to its average volume of 212,048. The business has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $2.57. The stock has a market capitalization of $93.98 million, a PE ratio of -8.40 and a beta of 2.10. AXT, Inc. has a 52 week low of $1.73 and a 52 week high of $5.64.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $23.65 million during the quarter, compared to analyst estimates of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same quarter last year, the firm posted ($0.14) EPS. On average, analysts predict that AXT, Inc. will post -0.22 EPS for the current year.

AXT 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.