Perritt Capital Management Inc. trimmed its holdings in AXT Inc (NASDAQ:AXTI) by 2.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 368,271 shares of the semiconductor company’s stock after selling 7,740 shares during the quarter. Perritt Capital Management Inc.’s holdings in AXT were worth $1,458,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Bank of America Corp DE grew its holdings in AXT by 26.8% during the 4th quarter. Bank of America Corp DE now owns 130,684 shares of the semiconductor company’s stock valued at $569,000 after buying an additional 27,646 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of AXT by 507.7% during the first quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 6,625 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of AXT by 8.3% in the first quarter. Systematic Financial Management LP now owns 1,380,505 shares of the semiconductor company’s stock worth $6,143,000 after buying an additional 105,778 shares in the last quarter. Apis Capital Advisors LLC purchased a new position in shares of AXT in the first quarter worth $312,000. Finally, Royce & Associates LP boosted its position in shares of AXT by 10.7% during the first quarter. Royce & Associates LP now owns 2,375,084 shares of the semiconductor company’s stock worth $10,569,000 after acquiring an additional 230,300 shares during the last quarter. Institutional investors and hedge funds own 58.09% of the company’s stock.

AXTI has been the subject of several research analyst reports. Zacks Investment Research cut shares of AXT from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. ValuEngine upgraded shares of AXT from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $5.38.

Shares of AXTI stock traded up $0.05 during trading hours on Wednesday, hitting $3.95. The stock had a trading volume of 12,006 shares, compared to its average volume of 159,947. The stock has a market capitalization of $156.82 million, a price-to-earnings ratio of 16.45, a PEG ratio of 3.07 and a beta of 1.50. AXT Inc has a one year low of $3.24 and a one year high of $7.65. The stock’s 50-day moving average price is $3.77 and its two-hundred day moving average price is $4.32.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $24.80 million during the quarter, compared to analyst estimates of $24.11 million. AXT had a return on equity of 1.68% and a net margin of 3.36%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, analysts forecast that AXT Inc will post 0.08 EPS for the current year.

AXT Company Profile

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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