Princeton Capital Management LLC Decreases Stock Holdings in AXT, Inc. (NASDAQ:AXTI)

Princeton Capital Management LLC lessened its stake in shares of AXT, Inc. (NASDAQ:AXTI) by 67.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,444 shares of the semiconductor company’s stock after selling 36,515 shares during the quarter. Princeton Capital Management LLC’s holdings in AXT were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Canandaigua National Bank & Trust Co. purchased a new stake in AXT in the fourth quarter worth approximately $28,000. Bleakley Financial Group LLC purchased a new position in AXT in the fourth quarter worth about $29,000. Atlas Brown Inc. bought a new stake in shares of AXT during the 4th quarter valued at about $42,000. Virtu Financial LLC purchased a new stake in shares of AXT during the 4th quarter valued at about $54,000. Finally, Barclays PLC bought a new position in shares of AXT in the 3rd quarter worth approximately $85,000. 49.52% of the stock is currently owned by institutional investors.

AXT Price Performance

Shares of AXTI opened at $1.77 on Tuesday. The stock has a market capitalization of $80.71 million, a price-to-earnings ratio of -6.32 and a beta of 2.17. AXT, Inc. has a 1 year low of $1.29 and a 1 year high of $5.16. The business’s 50 day simple moving average is $1.92 and its 200-day simple moving average is $2.14.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of AXT in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $4.50 price objective (down previously from $5.50) on shares of AXT in a research report on Friday, February 21st. Finally, B. Riley reiterated a “buy” rating and set a $6.00 target price (up from $5.50) on shares of AXT in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.10.

AXT Profile

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.