Connor Clark & Lunn Investment Management Ltd. Sells 73,486 Shares of AXT, Inc. (NASDAQ:AXTI)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in AXT, Inc. (NASDAQ:AXTI) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 532,931 shares of the semiconductor company’s stock after selling 73,486 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.19% of AXT worth $1,156,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC raised its position in AXT by 5.2% in the fourth quarter. Empowered Funds LLC now owns 145,664 shares of the semiconductor company’s stock worth $316,000 after purchasing an additional 7,165 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in AXT in the fourth quarter worth about $29,000. Geode Capital Management LLC raised its position in AXT by 1.7% in the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock worth $1,123,000 after purchasing an additional 7,577 shares in the last quarter. Barclays PLC acquired a new position in AXT in the third quarter worth about $85,000. Finally, White Pine Capital LLC raised its position in AXT by 0.8% in the fourth quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company’s stock worth $1,451,000 after purchasing an additional 5,246 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Trading Down 1.7 %

NASDAQ AXTI opened at $1.72 on Friday. The firm has a market cap of $76.97 million, a price-to-earnings ratio of -6.14 and a beta of 2.17. The company has a 50 day moving average of $1.94 and a 200-day moving average of $2.15. AXT, Inc. has a 1-year low of $1.29 and a 1-year high of $5.64.

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

Analysts Set New Price Targets

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

About AXT

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.