AXT, Inc. (NASDAQ:AXTI) Given Consensus Rating of “Buy” by Analysts

Shares of AXT, Inc. (NASDAQ:AXTI) have received a consensus rating of “Buy” from the four brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $5.38.

A number of brokerages recently issued reports on AXTI. Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of AXT in a research note on Friday, May 3rd. Craig Hallum boosted their target price on shares of AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. StockNews.com raised shares of AXT from a “sell” rating to a “hold” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday, May 3rd. Finally, B. Riley upped their price objective on AXT from $3.80 to $5.50 and gave the company a “buy” rating in a research note on Friday, April 5th.

AXT Price Performance

NASDAQ:AXTI opened at $3.86 on Wednesday. The firm has a 50-day moving average of $3.99 and a two-hundred day moving average of $2.96. The stock has a market cap of $170.81 million, a P/E ratio of -9.65 and a beta of 2.28. AXT has a 1-year low of $1.89 and a 1-year high of $5.64.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXTI. PNC Financial Services Group Inc. lifted its stake in AXT by 28.7% in the fourth 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 last quarter. Byrne Asset Management LLC acquired a new position in AXT during the 1st quarter valued at about $28,000. Brookstone Capital Management bought a new position in AXT in the 4th quarter worth about $37,000. James Investment Research Inc. acquired a new stake in shares of AXT in the third quarter valued at approximately $38,000. Finally, Brown Advisory Inc. bought a new stake in shares of AXT during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds 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.