Assenagon Asset Management S.A. Adds $90M in AXT, Inc. ($AXTI)
Key Points
- Assenagon Asset Management S.A. changed its AXT, Inc. ($AXTI) stake by 161.9% last quarter, boosting to 1,505,354 shares worth $146.29 million.
- Wall Street's consensus rating on $AXTI is Buy and an average price target of $96.50.
- $AXTI last traded around $97.18.
Assenagon Asset Management S.A. increased its position in AXT, Inc. ($AXTI) by 161.9% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,505,354 shares of AXT, Inc. after buying 930,526 shares during the quarter. Assenagon Asset Management S.A.'s holdings in AXT, Inc. were worth $146.29 million as of its most recent filing.
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About AXT, Inc.
AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company provides 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. It also offers semi-insulating gallium arsenide (GaAs) substrates for use in Wi-Fi and IoT devices, transistors, direct broadcast television, power amplifiers, satellite communications, and solar cells; and semi-conducting GaAs substrates that are used in LEDs, screen displays using micro-LEDs, printer head lasers and LEDs, 3-D sensing using VCSELs, data center communication using VCSELs, sensors for industrial robotics/near-infrared sensors, laser machining, cutting and drilling, optical couplers, solar cells, night vision goggles, lidar for robotics and autonomous vehicles, and other lasers. In addition, the company provides germanium substrates for use in multi-junction solar cells for satellites, optical sensors and detectors, terrestrial concentrated photo voltaic cells, infrared detectors, and carrier wafer for LED. Further, it offers 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, pyrolytic boron nitride (pBN) crucibles, and pBN insulating parts. It sells its products through direct salesforce in the United States, China, and Europe, as well as through independent sales representatives and distributors in Japan, Taiwan, Korea, and internationally. The company was formerly known as American Xtal Technology, Inc. and changed its name to AXT, Inc. in July 2000. AXT, Inc. was incorporated in 1986 and is headquartered in Fremont, California.
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