AXT (NASDAQ:AXTI) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of AXT (NASDAQ:AXTI) in a report issued on Friday morning, Benzinga reports. They currently have a $6.00 price target on the semiconductor company’s stock.

AXTI has been the topic of several other reports. Needham & Company LLC reaffirmed a buy rating and issued a $5.00 target price on shares of AXT in a research report on Friday. B. Riley upped their price target on AXT from $3.80 to $5.50 and gave the company a buy rating in a report on Friday, April 5th. Craig Hallum upped their price target on AXT from $3.75 to $5.00 and gave the company a buy rating in a research report on Tuesday, April 9th. Finally, StockNews.com cut AXT from a hold rating to a sell rating in a report on Saturday, March 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $5.38.

AXT Price Performance

AXT stock opened at $3.93 on Friday. AXT has a 12-month low of $1.89 and a 12-month high of $5.64. The stock has a market capitalization of $173.90 million, a PE ratio of -9.82 and a beta of 2.28. The firm has a 50 day simple moving average of $4.02 and a 200-day simple moving average of $2.95.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. AXT had a negative net margin of 21.01% and a negative return on equity of 7.36%. During the same period in the previous year, the firm earned ($0.08) EPS. On average, analysts forecast that AXT will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AXT

Several institutional investors have recently modified their holdings of the stock. James Investment Research Inc. acquired a new stake in shares of AXT during the third quarter worth about $38,000. Barclays PLC bought a new stake in AXT in the 3rd quarter valued at $60,000. White Pine Capital LLC increased its stake in shares of AXT by 9.8% during the third quarter. White Pine Capital LLC now owns 450,737 shares of the semiconductor company’s stock worth $1,082,000 after purchasing an additional 40,347 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in shares of AXT by 1.8% in the third quarter. Pacific Ridge Capital Partners LLC now owns 1,232,069 shares of the semiconductor company’s stock valued at $2,957,000 after acquiring an additional 21,973 shares during the period. Finally, Algert Global LLC bought a new stake in shares of AXT in the third quarter valued at approximately $85,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

About AXT

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.