Investors Purchase High Volume of AXT Call Options (AXTI)

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AXT Inc (NASDAQ:AXTI) was the recipient of some unusual options trading activity on Thursday. Stock investors bought 2,495 call options on the stock. This is an increase of 2,980% compared to the average daily volume of 81 call options.

Several equities analysts have recently commented on AXTI shares. BWS Financial reaffirmed a “buy” rating on shares of AXT in a research note on Tuesday, April 17th. ValuEngine raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of AXT from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. Finally, TheStreet raised shares of AXT from a “c+” rating to a “b-” rating in a research note on Tuesday, June 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $10.44.

A number of hedge funds have recently added to or reduced their stakes in AXTI. Foundry Partners LLC bought a new position in AXT in the first quarter worth about $2,572,000. Argent Capital Management LLC bought a new position in shares of AXT during the first quarter valued at approximately $1,004,000. New York State Common Retirement Fund increased its stake in shares of AXT by 39.5% during the first quarter. New York State Common Retirement Fund now owns 291,014 shares of the semiconductor company’s stock valued at $2,110,000 after purchasing an additional 82,400 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AXT by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,273,255 shares of the semiconductor company’s stock valued at $23,731,000 after purchasing an additional 82,133 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of AXT by 8.0% during the first quarter. Systematic Financial Management LP now owns 895,464 shares of the semiconductor company’s stock valued at $6,492,000 after purchasing an additional 66,335 shares in the last quarter. 52.94% of the stock is owned by institutional investors.

AXT opened at $8.40 on Friday, MarketBeat.com reports. AXT has a 1 year low of $5.80 and a 1 year high of $10.75. The stock has a market capitalization of $325.37 million, a P/E ratio of 32.31, a P/E/G ratio of 1.30 and a beta of 1.15.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, April 25th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. AXT had a net margin of 12.06% and a return on equity of 6.84%. The company had revenue of $24.40 million during the quarter, compared to the consensus estimate of $24.24 million. During the same period in the prior year, the firm earned $0.02 earnings per share. AXT’s revenue was up 18.4% on a year-over-year basis. analysts anticipate that AXT will post 0.36 EPS for the current year.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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