5 Best Semiconductor Penny Stocks to Buy

4. AXT, Inc. (NASDAQ:AXTI)

Number of Hedge Fund Investors In Q1 2023: 9

AXT, Inc. (NASDAQ:AXTI) is a backend semiconductor company. It primarily provides semiconductor substrates to chipmakers. Substrates are layers that are placed on top of a silicon wafer, and these host a complex series of circuits for a multitude of use cases such as data centers, night vision goggles, and WiFi products.

Insider Monkey took a look at 943 hedge funds for their Q1 2023 shareholdings to discover that nine had invested in the company. AXT, Inc. (NASDAQ:AXTI)’s biggest shareholder in our database is Chuck Royce’s Royce & Associates with a $4.9 million stake.

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