AXT (NASDAQ:AXTI) Upgraded by TheStreet to “B-“

TheStreet upgraded shares of AXT (NASDAQ:AXTI – Get Rating) from a c rating to a b- rating in a research report report published on Tuesday, TheStreetRatingsTable reports.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC raised their price target on AXT from $8.00 to $9.00 and gave the company a buy rating in a report on Friday, July 29th. StockNews.com raised AXT from a sell rating to a hold rating in a report on Wednesday, July 20th. Northland Securities dropped their target price on AXT from $15.00 to $12.00 in a report on Friday, April 29th. Finally, B. Riley dropped their target price on AXT from $9.50 to $8.00 in a report on Friday, April 29th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, AXT presently has a consensus rating of Moderate Buy and a consensus price target of $10.50.

AXT Trading Down 5.7 %

NASDAQ:AXTI opened at $8.77 on Tuesday. AXT has a 1-year low of $4.97 and a 1-year high of $10.44. The firm has a fifty day simple moving average of $6.42 and a 200 day simple moving average of $6.59. The stock has a market capitalization of $376.69 million, a PE ratio of 24.36 and a beta of 2.12.

AXT (NASDAQ:AXTI – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. AXT had a return on equity of 6.83% and a net margin of 10.22%. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, equities analysts predict that AXT will post 0.49 earnings per share for the current fiscal year.

Insider Activity at AXT

In related news, Director Russell Christine sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $9.40, for a total value of $70,500.00. Following the completion of the transaction, the director now owns 31,552 shares of the company’s stock, valued at $296,588.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Russell Christine sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $9.40, for a total value of $70,500.00. Following the completion of the transaction, the director now owns 31,552 shares of the company’s stock, valued at $296,588.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Gary L. Fischer sold 40,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $9.19, for a total value of $367,600.00. Following the completion of the transaction, the chief financial officer now directly owns 279,020 shares of the company’s stock, valued at approximately $2,564,193.80. The disclosure for this sale can be found here. Insiders sold a total of 107,500 shares of company stock valued at $933,100 over the last quarter. 8.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank bought a new position in AXT in the first quarter valued at about $34,000. Clearstead Advisors LLC bought a new position in AXT in the first quarter valued at about $35,000. Mirae Asset Global Investments Co. Ltd. bought a new position in AXT in the second quarter valued at about $68,000. AE Wealth Management LLC bought a new stake in shares of AXT during the second quarter worth about $78,000. Finally, SG Americas Securities LLC bought a new stake in shares of AXT during the second quarter worth about $84,000. Institutional investors own 53.51% of the company’s stock.

AXT Company Profile

(Get Rating)

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

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