Pacific Ridge Capital Partners LLC Sells 41,869 Shares of AXT Inc $AXTI

Pacific Ridge Capital Partners LLC lowered its stake in shares of AXT Inc (NASDAQ:AXTI) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,793,797 shares of the semiconductor company’s stock after selling 41,869 shares during the quarter. AXT comprises approximately 1.8% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 14th biggest position. Pacific Ridge Capital Partners LLC owned about 3.89% of AXT worth $8,054,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AXTI. Assenagon Asset Management S.A. lifted its position in shares of AXT by 12.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 2,540 shares during the period. Acadian Asset Management LLC increased its position in shares of AXT by 2.8% in the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after purchasing an additional 8,039 shares during the period. XTX Topco Ltd acquired a new position in AXT in the second quarter valued at about $42,000. White Pine Capital LLC lifted its position in AXT by 2.8% during the second quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock worth $1,798,000 after purchasing an additional 23,467 shares during the period. Finally, Wesbanco Bank Inc. acquired a new stake in AXT during the third quarter worth about $112,000. Institutional investors own 49.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. B. Riley Financial boosted their target price on shares of AXT to $21.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Craig Hallum reissued a “buy” rating on shares of AXT in a research note on Friday, January 9th. Wedbush upped their target price on AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Wall Street Zen raised AXT from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, UBS Group set a $35.00 price target on AXT in a report on Tuesday, February 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AXT has an average rating of “Hold” and a consensus price target of $22.80.

AXT Stock Performance

Shares of NASDAQ:AXTI opened at $40.97 on Thursday. The company has a fifty day moving average of $21.07 and a 200-day moving average of $11.67. The company has a market capitalization of $2.26 billion, a PE ratio of -85.35 and a beta of 1.96. AXT Inc has a 52-week low of $1.13 and a 52-week high of $41.19.

AXT (NASDAQ:AXTI) last released its quarterly earnings data on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). AXT had a negative net margin of 24.07% and a negative return on equity of 10.59%. The firm had revenue of $23.04 million for the quarter, compared to analyst estimates of $24.24 million. On average, equities analysts forecast that AXT Inc will post -0.12 EPS for the current fiscal year.

Insider Activity

In other news, CEO Morris S. Young sold 35,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $12.05, for a total transaction of $421,750.00. Following the sale, the chief executive officer directly owned 2,495,564 shares in the company, valued at approximately $30,071,546.20. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David C. Chang sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total value of $371,000.00. Following the completion of the transaction, the director directly owned 132,744 shares of the company’s stock, valued at $1,969,920.96. This represents a 15.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 110,000 shares of company stock worth $1,369,000. Company insiders own 8.80% of the company’s stock.

AXT Profile

AXT, Inc (NASDAQ: AXTI) is a global supplier of compound and single-element semiconductor substrates, offering a range of materials critical for high-performance electronic and optoelectronic devices. Founded in 1986 and headquartered in Fremont, California, AXT specializes in the development, manufacture and distribution of wafers composed of gallium arsenide (GaAs), indium phosphide (InP), gallium nitride (GaN) and other compound semiconductor materials. These substrates serve as the foundational platforms for devices used in data communications, wireless infrastructure, advanced computing, consumer electronics and photovoltaic applications.

AXT’s product portfolio encompasses a variety of wafer sizes, dopant concentrations and crystal orientations, tailored to meet the precise specifications of its customers.