AXT, Inc. (NASDAQ:AXTI) Receives Average Recommendation of “Buy” from Brokerages

AXT, Inc. (NASDAQ:AXTI) has earned an average recommendation of “Buy” from the five analysts that are covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $5.30.

Several analysts have recently weighed in on AXTI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of AXT in a report on Friday, November 1st. StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Finally, Northland Securities dropped their target price on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

Institutional Investors Weigh In On AXT

A number of hedge funds and other institutional investors have recently modified their holdings of AXTI. Geode Capital Management LLC raised its stake in shares of AXT by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock worth $1,123,000 after buying an additional 7,577 shares during the last quarter. Assenagon Asset Management S.A. raised its position in AXT by 26.5% during the third quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 13,376 shares during the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of AXT by 21.1% in the second quarter. ClariVest Asset Management LLC now owns 195,920 shares of the semiconductor company’s stock valued at $662,000 after purchasing an additional 34,120 shares in the last quarter. Barclays PLC acquired a new stake in shares of AXT in the third quarter valued at approximately $85,000. Finally, Bailard Inc. purchased a new position in shares of AXT during the 2nd quarter worth approximately $122,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Trading Up 2.8 %

AXT stock opened at $2.18 on Friday. The stock has a 50 day moving average of $2.23 and a two-hundred day moving average of $2.71. AXT has a twelve month low of $1.73 and a twelve month high of $5.64. The stock has a market capitalization of $97.56 million, a price-to-earnings ratio of -8.72 and a beta of 2.15.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The company had revenue of $23.65 million for the quarter, compared to analyst estimates of $25.98 million. During the same period in the prior year, the business earned ($0.14) earnings per share. Equities analysts predict that AXT will post -0.22 earnings per share for the current year.

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.