AXT Stock Performance
NASDAQ AXTI opened at $2.47 on Tuesday. The company has a market capitalization of $107.79 million, a PE ratio of -7.97 and a beta of 2.08. The company has a 50-day simple moving average of $2.49 and a 200 day simple moving average of $2.40. AXT has a 52-week low of $1.89 and a 52-week high of $6.31.
Analyst Ratings Changes
Separately, StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, AXT presently has an average rating of “Hold” and a consensus price target of $5.49.
Hedge Funds Weigh In On AXT
A number of large investors have recently modified their holdings of AXTI. JPMorgan Chase & Co. boosted its position in shares of AXT by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 19,071 shares of the semiconductor company’s stock valued at $134,000 after acquiring an additional 3,553 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AXT by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 177,445 shares of the semiconductor company’s stock worth $1,246,000 after acquiring an additional 8,839 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of AXT by 59.6% in the 1st quarter. Invesco Ltd. now owns 48,727 shares of the semiconductor company’s stock worth $342,000 after acquiring an additional 18,198 shares during the last quarter. State Street Corp lifted its holdings in shares of AXT by 3.9% in the 1st quarter. State Street Corp now owns 718,825 shares of the semiconductor company’s stock worth $5,046,000 after acquiring an additional 26,826 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of AXT by 132.4% in the 1st quarter. Bank of America Corp DE now owns 169,073 shares of the semiconductor company’s stock worth $1,187,000 after acquiring an additional 96,314 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors.
AXT Company Profile
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.
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