Pacific Ridge Capital Partners LLC Has $4.20 Million Stock Holdings in AXT, Inc. (NASDAQ:AXTI)

Pacific Ridge Capital Partners LLC grew its position in AXT, Inc. (NASDAQ:AXTI) by 65.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,937,424 shares of the semiconductor company’s stock after purchasing an additional 766,122 shares during the period. Pacific Ridge Capital Partners LLC’s holdings in AXT were worth $4,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Systematic Financial Management LP increased its position in AXT by 13.0% in the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock worth $3,575,000 after purchasing an additional 169,406 shares during the period. White Pine Capital LLC grew its position in shares of AXT by 0.8% during the 4th quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company’s stock worth $1,451,000 after buying an additional 5,246 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of AXT by 10.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock worth $1,468,000 after buying an additional 54,891 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AXT by 1.7% in the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock valued at $1,123,000 after buying an additional 7,577 shares during the period. Finally, Empowered Funds LLC boosted its stake in AXT by 5.2% in the fourth quarter. Empowered Funds LLC now owns 145,664 shares of the semiconductor company’s stock valued at $316,000 after acquiring an additional 7,165 shares during the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Stock Down 7.6 %

Shares of AXTI stock opened at $1.59 on Thursday. AXT, Inc. has a 12-month low of $1.29 and a 12-month high of $4.99. The firm has a fifty day moving average of $1.90 and a 200-day moving average of $2.13. The firm has a market capitalization of $72.50 million, a price-to-earnings ratio of -5.68 and a beta of 2.17.

AXT (NASDAQ:AXTI) last posted its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. The business had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. Research analysts expect that AXT, Inc. will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of AXT in a research report on Friday, February 21st. Wedbush reiterated an “outperform” rating and issued a $4.50 price objective (down previously from $5.50) on shares of AXT in a report on Friday, February 21st. Finally, B. Riley restated a “buy” rating and set a $6.00 target price (up previously from $5.50) on shares of AXT in a report on Friday, February 21st. One equities research 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.com, AXT has a consensus rating of “Moderate Buy” and a consensus price target of $5.10.

About AXT

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.