Ameriprise Financial Inc. Buys 95,622 Shares of AXT Inc (AXTI)

Ameriprise Financial Inc. grew its stake in shares of AXT Inc (NASDAQ:AXTI) by 52.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 276,758 shares of the semiconductor company’s stock after purchasing an additional 95,622 shares during the period. Ameriprise Financial Inc. owned about 0.72% of AXT worth $2,533,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Voya Investment Management LLC bought a new stake in AXT during the 2nd quarter worth approximately $100,000. Gotham Asset Management LLC increased its holdings in AXT by 35.5% during the 2nd quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 6,182 shares in the last quarter. Nationwide Fund Advisors increased its holdings in AXT by 278.0% during the 2nd quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 20,892 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in AXT by 15,013.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 30,026 shares in the last quarter. Finally, KBC Group NV bought a new stake in AXT during the 2nd quarter worth approximately $196,000. 60.36% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Morris S. Young sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $8.86, for a total value of $443,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert G. Ochrym sold 8,125 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $8.80, for a total value of $71,500.00. Following the completion of the transaction, the vice president now owns 44,125 shares in the company, valued at approximately $388,300. The disclosure for this sale can be found here. Insiders sold a total of 133,375 shares of company stock worth $1,216,235 in the last 90 days. Company insiders own 6.90% of the company’s stock.

A number of analysts have commented on the company. Zacks Investment Research lowered AXT from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of AXT in a report on Thursday, October 26th. B. Riley reissued a “hold” rating and set a $8.50 price objective on shares of AXT in a report on Tuesday, October 24th. Finally, BidaskClub lowered AXT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $9.90.

Shares of AXT Inc (AXTI) opened at $8.95 on Friday. The company has a market capitalization of $348.08, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11. AXT Inc has a twelve month low of $4.90 and a twelve month high of $10.75.

AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. AXT had a return on equity of 5.67% and a net margin of 9.96%. The firm had revenue of $28.17 million for the quarter, compared to the consensus estimate of $27.05 million. During the same quarter in the previous year, the business earned $0.07 EPS. The company’s revenue was up 28.8% compared to the same quarter last year. equities analysts anticipate that AXT Inc will post 0.25 EPS for the current year.

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AXT Profile

AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.

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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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