Princeton Capital Management LLC Sells 14,800 Shares of AXT, Inc. (NASDAQ:AXTI)

Princeton Capital Management LLC cut its stake in shares of AXT, Inc. (NASDAQ:AXTI) by 21.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,959 shares of the semiconductor company’s stock after selling 14,800 shares during the quarter. Princeton Capital Management LLC owned approximately 0.12% of AXT worth $131,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AXTI. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of AXT during the 1st quarter valued at approximately $77,000. SG Americas Securities LLC bought a new position in shares of AXT during the 1st quarter valued at approximately $52,000. State Board of Administration of Florida Retirement System bought a new position in shares of AXT during the 1st quarter valued at approximately $93,000. Vanguard Group Inc. boosted its stake in AXT by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock worth $10,540,000 after purchasing an additional 20,747 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in AXT by 208.6% in the 1st quarter. Quadrature Capital Ltd now owns 115,388 shares of the semiconductor company’s stock worth $530,000 after purchasing an additional 78,001 shares during the period. 49.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AXTI has been the subject of several recent analyst reports. Northland Securities dropped their price target on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of AXT in a research note on Monday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target 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 note on Monday, September 30th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.30.

AXT Trading Down 6.0 %

NASDAQ AXTI opened at $1.73 on Tuesday. AXT, Inc. has a one year low of $1.73 and a one year high of $5.64. The stock has a 50 day moving average price of $2.34 and a 200-day moving average price of $2.94.

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

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.