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

Shares of AXT, Inc. (NASDAQ:AXTI) have been given an average recommendation of “Buy” by the five brokerages that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.30.

A number of research firms recently weighed in on AXTI. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Friday, November 1st. Northland Securities lowered their price target on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research 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, Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price on shares of AXT in a report on Monday, July 29th.

AXT Stock Performance

Shares of AXT stock opened at $2.11 on Friday. AXT has a 12 month low of $1.93 and a 12 month high of $5.64. The firm has a market capitalization of $93.85 million, a P/E ratio of -8.44 and a beta of 2.22. The business has a fifty day simple moving average of $2.41 and a two-hundred day simple moving average of $2.99.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported ($0.07) EPS 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 business had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. During the same period in the previous year, the firm earned ($0.14) EPS. Analysts predict that AXT will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On AXT

A number of hedge funds have recently bought and sold shares of AXTI. PNC Financial Services Group Inc. grew its stake in shares of AXT by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 2,500 shares during the period. SG Americas Securities LLC purchased a new stake in AXT during the 1st quarter valued at $52,000. Byrne Asset Management LLC lifted its holdings in shares of AXT by 125.0% during the 2nd quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 7,500 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of AXT in the 1st quarter worth $77,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of AXT in the first quarter worth $93,000. Hedge funds and other 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.