Franklin Resources Inc. continued to hold its stake in shares of AXT Inc (NASDAQ:AXTI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,881 shares of the semiconductor company’s stock at the end of the fourth quarter. Franklin Resources Inc. owned approximately 0.16% of AXT worth $254,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of AXTI. Alambic Investment Management L.P. increased its stake in shares of AXT by 63.0% in the third quarter. Alambic Investment Management L.P. now owns 20,700 shares of the semiconductor company’s stock worth $107,000 after buying an additional 8,000 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in AXT during the fourth quarter worth $104,000. A.R.T. Advisors LLC bought a new position in AXT during the fourth quarter worth $108,000. FNY Partners Fund LP bought a new position in AXT during the fourth quarter worth $175,000. Finally, GSA Capital Partners LLP boosted its position in AXT by 189.6% in the fourth quarter. GSA Capital Partners LLP now owns 58,500 shares of the semiconductor company’s stock worth $281,000 after buying an additional 38,300 shares during the last quarter. 46.97% of the stock is owned by institutional investors and hedge funds.
Shares of AXT Inc (NASDAQ:AXTI) remained flat at $6.40 during mid-day trading on Friday. 698,015 shares of the company traded hands. AXT Inc has a one year low of $2.55 and a one year high of $8.65. The company has a market cap of $209.32 million, a P/E ratio of 37.65 and a beta of 1.25. The stock’s 50 day moving average price is $6.07 and its 200 day moving average price is $5.70.
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A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 target price on shares of AXT in a research note on Thursday, March 16th. B. Riley cut shares of AXT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.25 to $7.00 in a research note on Friday, March 17th. Finally, Zacks Investment Research cut shares of AXT from a “buy” rating to a “hold” rating in a research note on Friday, December 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $8.17.
AXT Company 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.
