Renaissance Technologies LLC Sells 131,304 Shares of AXT, Inc. (NASDAQ:AXTI)

Renaissance Technologies LLC decreased its position in shares of AXT, Inc. (NASDAQ:AXTI) by 29.0% in the fourth quarter, HoldingsChannel reports. The firm owned 321,996 shares of the semiconductor company’s stock after selling 131,304 shares during the quarter. Renaissance Technologies LLC’s holdings in AXT were worth $699,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. B. Riley decreased their price objective on AXT from $6.00 to $4.50 and set a “buy” rating on the stock in a research report on Friday. Wedbush restated an “outperform” rating and set a $4.50 target price on shares of AXT in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of AXT in a report on Friday, February 21st. Finally, StockNews.com upgraded shares of AXT to a “sell” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AXT currently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

AXT Stock Up 3.0 %

Shares of NASDAQ AXTI opened at $1.39 on Friday. AXT, Inc. has a twelve month low of $1.13 and a twelve month high of $4.23. The firm has a market cap of $63.38 million, a PE ratio of -4.96 and a beta of 2.36. The business has a fifty day simple moving average of $1.46 and a two-hundred day simple moving average of $1.93.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Thursday, May 1st. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. On average, research analysts expect that AXT, Inc. will post -0.12 earnings per share for the current year.

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.