AXT (NASDAQ:AXTI) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AXT (NASDAQ:AXTI) in a report published on Friday morning, Benzinga reports. They currently have a $5.00 target price on the semiconductor company’s stock.

AXTI has been the topic of a number of other research reports. B. Riley boosted their target price on shares of AXT from $3.80 to $5.50 and gave the company a buy rating in a report on Friday, April 5th. StockNews.com downgraded shares of AXT from a hold rating to a sell rating in a research note on Saturday, March 2nd. Wedbush reiterated an outperform rating and issued a $6.00 price objective on shares of AXT in a research report on Monday, April 8th. Finally, Craig Hallum increased their price target on shares of AXT from $3.75 to $5.00 and gave the company a buy rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $5.38.

AXT Price Performance

NASDAQ AXTI opened at $3.93 on Friday. The firm has a market cap of $173.90 million, a price-to-earnings ratio of -9.82 and a beta of 2.28. AXT has a 1 year low of $1.89 and a 1 year high of $5.64. The company has a fifty day moving average price of $4.02 and a 200-day moving average price of $2.95.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AXTI. First Wilshire Securities Management Inc. grew its stake in shares of AXT by 30.8% during the 4th quarter. First Wilshire Securities Management Inc. now owns 3,306,715 shares of the semiconductor company’s stock valued at $7,936,000 after purchasing an additional 779,548 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake 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 valued at $2,957,000 after purchasing an additional 21,973 shares during the period. White Pine Capital LLC increased its holdings in AXT by 35.9% during the 4th quarter. White Pine Capital LLC now owns 612,630 shares of the semiconductor company’s stock worth $1,470,000 after purchasing an additional 161,893 shares during the period. Franklin Resources Inc. raised its holdings in shares of AXT by 47.0% in the 4th quarter. Franklin Resources Inc. now owns 465,948 shares of the semiconductor company’s stock valued at $1,118,000 after purchasing an additional 149,048 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in AXT by 127.3% during the third quarter. GSA Capital Partners LLP now owns 377,321 shares of the semiconductor company’s stock valued at $906,000 after purchasing an additional 211,351 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

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.