AXT, Inc. (NASDAQ:AXTI) Receives $5.30 Average PT from Analysts

Shares of AXT, Inc. (NASDAQ:AXTI) have been given an average rating of “Buy” by the four research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.30.

Several research firms recently commented on AXTI. Craig Hallum raised their price target on shares of AXT from $3.75 to $5.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of AXT in a research note on Tuesday, April 9th. B. Riley upped their price target on shares of AXT from $3.80 to $5.50 and gave the stock a “buy” rating in a research report on Friday, April 5th. Wedbush reissued an “outperform” rating and issued a $6.00 price objective on shares of AXT in a research report on Monday, April 8th. Finally, StockNews.com cut AXT from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd.

AXT Stock Down 6.4 %

AXTI stock opened at $3.21 on Friday. The company has a market cap of $142.04 million, a price-to-earnings ratio of -7.46 and a beta of 2.24. The business has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $2.88. AXT has a 52 week low of $1.89 and a 52 week high of $5.64.

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

Institutional Investors Weigh In On AXT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Wilshire Securities Management Inc. grew its stake in shares of AXT by 30.8% during the fourth quarter. First Wilshire Securities Management Inc. now owns 3,306,715 shares of the semiconductor company’s stock valued at $7,936,000 after acquiring an additional 779,548 shares in the last quarter. Vanguard Group Inc. increased its holdings in AXT by 14.3% during the 4th quarter. Vanguard Group Inc. now owns 2,275,457 shares of the semiconductor company’s stock worth $5,461,000 after purchasing an additional 285,113 shares during the last quarter. Needham Investment Management LLC raised its position in shares of AXT by 18.2% in the 4th quarter. Needham Investment Management LLC now owns 1,460,450 shares of the semiconductor company’s stock valued at $6,397,000 after purchasing an additional 225,000 shares in the last quarter. Royce & Associates LP boosted its stake in shares of AXT by 1.9% during the 1st quarter. Royce & Associates LP now owns 1,244,200 shares of the semiconductor company’s stock valued at $4,952,000 after buying an additional 23,200 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its position in shares of AXT by 1.8% during the third quarter. Pacific Ridge Capital Partners LLC now owns 1,232,069 shares of the semiconductor company’s stock worth $2,957,000 after buying an additional 21,973 shares in the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

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.