Brookstone Capital Management Purchases New Holdings in AXT, Inc. (NASDAQ:AXTI)

Brookstone Capital Management purchased a new stake in shares of AXT, Inc. (NASDAQ:AXTI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,358 shares of the semiconductor company’s stock, valued at approximately $37,000.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of AXT by 234.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,700 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 6,100 shares during the period. Point72 Middle East FZE bought a new stake in shares of AXT in the 2nd quarter valued at approximately $37,000. James Investment Research Inc. bought a new stake in shares of AXT in the 3rd quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its stake in shares of AXT by 1,060.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,960 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 16,412 shares during the period. Finally, American Century Companies Inc. bought a new stake in shares of AXT in the 4th quarter valued at approximately $44,000. 49.52% of the stock is currently owned by institutional investors.

AXT Price Performance

Shares of AXTI opened at $4.89 on Thursday. The business’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $2.73. AXT, Inc. has a one year low of $1.89 and a one year high of $5.64. The company has a market capitalization of $216.38 million, a P/E ratio of -11.37 and a beta of 2.24.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.05. AXT had a negative return on equity of 7.80% and a negative net margin of 23.59%. The firm had revenue of $20.43 million for the quarter, compared to the consensus estimate of $17.62 million. On average, sell-side analysts anticipate that AXT, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXTI has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of AXT in a research note on Friday, February 23rd. B. Riley raised AXT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2.40 to $3.80 in a report on Friday, February 23rd. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Craig Hallum raised AXT from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.25 to $3.75 in a report on Friday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of AXT in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.71.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.