Perritt Capital Management Inc Lowers stake in AXT Inc (AXTI)

AXT Inc (AXTI) : Perritt Capital Management Inc reduced its stake in AXT Inc by 5.31% during the most recent quarter end. The investment management company now holds a total of 1,840,181 shares of AXT Inc which is valued at $7,323,920 after selling 103,206 shares in AXT Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AXT Inc makes up approximately 1.68% of Perritt Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The reduced its stake in AXTI by selling 409 shares or 49.46% in the most recent quarter. The Hedge Fund company now holds 418 shares of AXTI which is valued at $1,664.Vanguard Group Inc boosted its stake in AXTI in the latest quarter, The investment management firm added 21,488 additional shares and now holds a total of 1,420,128 shares of AXT Inc which is valued at $5,652,109. Coldstream Capital Management Inc sold out all of its stake in AXTI during the most recent quarter. The investment firm sold 31,150 shares of AXTI which is valued $123,977. Clarivest Asset Management added AXTI to its portfolio by purchasing 257,681 company shares during the most recent quarter which is valued at $966,304. AXT Inc makes up approx 0.03% of Clarivest Asset Management’s portfolio.

AXT Inc opened for trading at $4.22 and hit $4.34 on the upside on Thursday, eventually ending the session at $4.29, with a gain of 0.47% or 0.02 points. The heightened volatility saw the trading volume jump to 69,480 shares. Company has a market cap of $139 M.

On the company’s financial health, AXT Inc reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.02. The company had revenue of $20.50 million for the quarter, compared to analysts expectations of $19.97 million. The company’s revenue was down -2.4 % compared to the same quarter last year.

Many Wall Street Analysts have commented on AXT Inc. Needham Upgraded AXT Inc on Jul 28, 2016 to ” Buy”, Price Target of the shares are set at $5.50.

AXT Inc. (AXT) is a developer and producer of compound and single element semiconductor substrates. Through its subsidiaries the Company manufactures its semiconductor substrates using the vertical gradient freeze (VGF) technology. AXT manufactures its products in the People’s Republic of China (PRC). The Company’s compound substrates combine gallium with arsenic (GaAs) or combine indium with phosphorous (InP). Its single-element substrates are made from germanium (Ge). The Company designs develops manufactures and distributes high-performance semiconductor substrates also known as wafers. The Company’s substrate products include GaAs (semi-insulating) GaAs (semi-conducting) InP and Ge which is used in Satellite and terrestrial solar cells and Optical applications.

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