AXT (NASDAQ:AXTI) Price Target Raised to $5.00 at Craig Hallum

AXT (NASDAQ:AXTI) had its price target increased by equities research analysts at Craig Hallum from $3.75 to $5.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price suggests a potential upside of 35.14% from the company’s previous close.

Several other equities research analysts also recently commented on AXTI. B. Riley upped their target price on AXT from $3.80 to $5.50 and gave the company a “buy” rating in a report on Friday, April 5th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of AXT in a report on Tuesday. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of AXT in a research report on Monday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, AXT has a consensus rating of “Moderate Buy” and a consensus target price of $5.30.

AXT Price Performance

AXTI stock opened at $3.70 on Tuesday. The firm has a market cap of $163.72 million, a PE ratio of -8.60 and a beta of 2.24. AXT has a 12 month low of $1.89 and a 12 month high of $5.64. The firm has a 50 day simple moving average of $3.83 and a 200 day simple moving average of $2.85.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.05. AXT had a negative return on equity of 7.80% and a negative net margin of 23.59%. The company had revenue of $20.43 million for the quarter, compared to analysts’ expectations of $17.62 million. As a group, sell-side analysts expect that AXT will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On AXT

Several hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in shares of AXT by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 2,500 shares during the period. Brookstone Capital Management purchased a new stake in shares of AXT during the fourth quarter worth $37,000. Point72 Middle East FZE acquired a new stake in AXT during the second quarter valued at $37,000. Virtu Financial LLC purchased a new position in AXT in the fourth quarter valued at about $37,000. Finally, James Investment Research Inc. purchased a new position in AXT in the third quarter valued at about $38,000. 49.52% of the stock is owned by hedge funds and other institutional investors.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers 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.