TIAA CREF Investment Management LLC acquired a new stake in AXT Inc (NASDAQ:AXTI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 100,552 shares of the semiconductor company’s stock, valued at approximately $639,000. TIAA CREF Investment Management LLC owned 0.26% of AXT as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in AXT in the first quarter valued at approximately $105,000. KBC Group NV bought a new stake in AXT in the second quarter valued at approximately $196,000. Rhumbline Advisers bought a new stake in AXT in the second quarter valued at approximately $253,000. Eagle Global Advisors LLC bought a new stake in AXT in the second quarter valued at approximately $259,000. Finally, Teachers Advisors LLC bought a new stake in AXT in the second quarter valued at approximately $423,000. Hedge funds and other institutional investors own 60.56% of the company’s stock.
Several analysts have issued reports on AXTI shares. BidaskClub upgraded AXT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. BWS Financial upped their price objective on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of AXT in a research note on Sunday, September 17th. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a research note on Friday, July 28th. Finally, B. Riley restated a “hold” rating and issued a $8.50 price objective on shares of AXT in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $9.95.
In other news, VP Robert G. Ochrym sold 8,125 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $8.80, for a total transaction of $71,500.00. Following the transaction, the vice president now owns 44,125 shares in the company, valued at $388,300. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Morris S. Young sold 50,000 shares of the 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 disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.
AXT Inc (NASDAQ:AXTI) opened at $8.65 on Thursday. The firm has a market capitalization of $342.24, a P/E ratio of 36.67, a PEG ratio of 1.93 and a beta of 1.13. AXT Inc has a 52 week low of $4.35 and a 52 week high of $9.70.
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 the Zacks’ consensus estimate of $0.09 by $0.02. The company had revenue of $28.17 million for the quarter, compared to analyst estimates of $27.05 million. AXT had a return on equity of 5.67% and a net margin of 9.96%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. equities analysts expect that AXT Inc will post 0.26 earnings per share for the current fiscal year.
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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