Shares of AXT, Inc. (NASDAQ:AXTI – Get Rating) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $8.92.
A number of research analysts have recently issued reports on the company. Needham & Company LLC dropped their target price on AXT from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, October 28th. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a report on Sunday. Northland Securities dropped their target price on AXT from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, October 4th. TheStreet downgraded AXT from a “b-” rating to a “c+” rating in a research note on Wednesday, October 19th. Finally, Craig Hallum decreased their price target on AXT to $7.00 in a research note on Tuesday, November 1st.
Institutional Trading of AXT
A number of institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in AXT during the third quarter worth $93,000. BNP Paribas Arbitrage SNC boosted its position in AXT by 73.7% during the third quarter. BNP Paribas Arbitrage SNC now owns 15,702 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 6,661 shares in the last quarter. State Street Corp boosted its position in AXT by 1.4% during the third quarter. State Street Corp now owns 742,839 shares of the semiconductor company’s stock worth $4,977,000 after purchasing an additional 10,573 shares in the last quarter. Two Sigma Investments LP boosted its position in AXT by 61.6% during the third quarter. Two Sigma Investments LP now owns 155,760 shares of the semiconductor company’s stock worth $1,044,000 after purchasing an additional 59,389 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in AXT during the third quarter worth $131,000. 54.84% of the stock is currently owned by hedge funds and other institutional investors.
AXT Trading Up 2.1 %
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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