Princeton Capital Management LLC Sells 36,515 Shares of AXT, Inc. (NASDAQ:AXTI)

Princeton Capital Management LLC trimmed its position in AXT, Inc. (NASDAQ:AXTI) by 67.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other hedge funds have also recently modified their holdings of AXTI. Canandaigua National Bank & Trust Co. purchased a new stake in shares of AXT in the 4th quarter worth about $28,000. Bleakley Financial Group LLC bought a new stake in AXT during the 4th quarter valued at approximately $29,000. Atlas Brown Inc. purchased a new position in shares of AXT during the 4th quarter worth approximately $42,000. Virtu Financial LLC bought a new position in shares of AXT in the 4th quarter worth approximately $54,000. Finally, Barclays PLC bought a new stake in shares of AXT during the third quarter valued at approximately $85,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Price Performance

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

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

Analysts Set New Price Targets

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

AXT Company 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.