Lisanti Capital Growth LLC Acquires 58,665 Shares of AXT Inc $AXTI

Lisanti Capital Growth LLC acquired a new position in AXT Inc (NASDAQ:AXTI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,665 shares of the semiconductor company’s stock, valued at approximately $4,541,000. Lisanti Capital Growth LLC owned approximately 0.09% of AXT at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in AXT during the second quarter valued at about $365,607,000. Bank of America Corp DE bought a new stake in shares of AXT during the 2nd quarter worth about $46,062,000. Wellington Management Group LLP bought a new stake in shares of AXT during the 2nd quarter worth about $25,911,000. Squarepoint Ops LLC increased its holdings in shares of AXT by 1,347.0% during the 2nd quarter. Squarepoint Ops LLC now owns 312,999 shares of the semiconductor company’s stock valued at $22,561,000 after acquiring an additional 291,368 shares during the last quarter. Finally, Rokos Capital Management LLP acquired a new position in shares of AXT during the 1st quarter valued at about $18,842,000. 49.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AXT news, Director Leonard Leblanc sold 4,000 shares of AXT stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $96.07, for a total value of $384,280.00. Following the transaction, the director directly owned 113,129 shares of the company’s stock, valued at $10,868,303.03. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.97% of the stock is currently owned by corporate insiders.

AXT Stock Performance

AXT stock opened at $46.97 on Thursday. The business’s 50-day simple moving average is $63.07 and its 200-day simple moving average is $64.99. The firm has a market capitalization of $3.08 billion, a PE ratio of 104.38 and a beta of 2.01. AXT Inc has a 52 week low of $8.44 and a 52 week high of $143.16.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, October 29th. The semiconductor company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.10. AXT had a return on equity of 5.21% and a net margin of 18.53%. The business had revenue of $73.41 million during the quarter, compared to analysts’ expectations of $66.00 million. Research analysts forecast that AXT Inc will post 1.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXTI. Needham & Company LLC upgraded AXT from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, July 31st. B. Riley Financial increased their price target on AXT from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Zacks Research upgraded AXT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 4th. UBS Group set a $90.00 price target on shares of AXT in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of AXT from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.80.

AXT Profile

AXT, Inc. develops and manufactures compound semiconductor substrate materials used to make electronic and optoelectronic devices. Its products include indium phosphide, gallium arsenide and germanium substrates, supplied in wafer form for use by semiconductor manufacturers. These materials support applications such as fiber-optic and data communications, wireless devices, lasers, LEDs and solar cells. AXT also provides substrate processing services, including wafer polishing and finishing. Founded in 1986 and headquartered in Fremont, California, AXT serves customers around the world.