Assenagon Asset Management S.A. Decreases Stake in AXT, Inc. (NASDAQ:AXTI)

Assenagon Asset Management S.A. lessened its stake in AXT, Inc. (NASDAQ:AXTIFree Report) by 59.9% during the third quarter, Holdings Channel reports. The firm owned 26,557 shares of the semiconductor company’s stock after selling 39,666 shares during the period. Assenagon Asset Management S.A.’s holdings in AXT were worth $64,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in AXT by 234.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,700 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 6,100 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of AXT by 317.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,966 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 7,578 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of AXT in the 4th quarter valued at $44,000. Point72 Middle East FZE acquired a new position in shares of AXT during the 2nd quarter valued at $37,000. Finally, Barclays PLC boosted its position in AXT by 542.4% during the 4th quarter. Barclays PLC now owns 11,049 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 9,329 shares during the period. 53.92% of the stock is owned by hedge funds and other institutional investors.

AXT Trading Up 1.2 %

Shares of AXTI stock opened at $2.47 on Friday. AXT, Inc. has a twelve month low of $1.89 and a twelve month high of $6.57. The company has a market capitalization of $107.79 million, a PE ratio of -7.97 and a beta of 2.08. The firm has a fifty day simple moving average of $2.47 and a 200-day simple moving average of $2.41.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research report on Saturday, November 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.49.

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AXT Profile

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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.

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Institutional Ownership by Quarter for AXT (NASDAQ:AXTI)

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