Keystone Wealth Services LLC Has $684,000 Holdings in AXT, Inc. (NASDAQ:AXTI)

Keystone Wealth Services LLC grew its stake in AXT, Inc. (NASDAQ:AXTI) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,223 shares of the semiconductor company’s stock after buying an additional 8,333 shares during the period. Keystone Wealth Services LLC owned approximately 0.46% of AXT worth $684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kennedy Capital Management LLC lifted its position in shares of AXT by 9.2% in the first quarter. Kennedy Capital Management LLC now owns 605,642 shares of the semiconductor company’s stock worth $2,780,000 after buying an additional 50,975 shares during the last quarter. Quadrature Capital Ltd lifted its position in shares of AXT by 208.6% in the first quarter. Quadrature Capital Ltd now owns 115,388 shares of the semiconductor company’s stock worth $530,000 after buying an additional 78,001 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of AXT by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock worth $10,540,000 after buying an additional 20,747 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of AXT in the first quarter worth about $93,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of AXT during the 1st quarter worth about $743,000. Institutional investors and hedge funds own 49.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AXTI shares. Wedbush reissued an “outperform” rating and set a $6.00 price objective on shares of AXT in a research report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Friday, August 2nd. Finally, StockNews.com cut AXT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, AXT currently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

AXT Trading Down 2.4 %

AXTI traded down $0.06 on Friday, hitting $2.43. 182,536 shares of the stock traded hands, compared to its average volume of 1,329,198. AXT, Inc. has a 52 week low of $1.89 and a 52 week high of $5.64. The firm has a market capitalization of $107.89 million, a PE ratio of -6.08 and a beta of 2.28. The business has a fifty day moving average price of $3.42 and a two-hundred day moving average price of $3.51.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. AXT had a negative return on equity of 5.85% and a negative net margin of 14.75%. The firm had revenue of $27.92 million for the quarter, compared to analyst estimates of $26.50 million. During the same period in the previous year, the company posted ($0.12) earnings per share. On average, equities research analysts forecast that AXT, Inc. will post -0.2 EPS for the current fiscal year.

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.