CloudAlpha Capital Management Limited Hong Kong acquired a new stake in AXT Inc.
The asset manager purchased 1,390,730 shares of the semiconductor firm. This investment is valued at approximately $22.7 million. The purchase represents a 2.52% ownership stake in the company.
AXT now serves as the 17th largest holding for the Hong Kong-based manager. Institutional investors and hedge funds currently own 49.52% of the company's stock. Other firms, including Maytree Asset Management and Assenagon Asset Management, also recently increased their positions in AXT.