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

AXT, Inc. (NASDAQ:AXTI) has been assigned a consensus rating of “Buy” from the four brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.38.

AXTI has been the topic of a number of recent analyst reports. Northland Securities reduced their price target on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of AXT in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of AXT in a research report on Monday, July 29th. Finally, StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th.

Institutional Investors Weigh In On AXT

Several large investors have recently made changes to their positions in AXTI. PNC Financial Services Group Inc. raised 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 period. Byrne Asset Management LLC raised its stake in AXT by 125.0% in the 2nd quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 7,500 shares during the period. SG Americas Securities LLC acquired a new stake in AXT during the 1st quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. bought a new position in AXT during the first quarter worth $77,000. Finally, State Board of Administration of Florida Retirement System bought a new position in AXT during the first quarter worth $93,000. Institutional investors and hedge funds own 49.52% of the company’s stock.

AXT Stock Down 18.2 %

NASDAQ AXTI traded down $0.47 on Friday, reaching $2.11. The company had a trading volume of 1,404,038 shares, compared to its average volume of 1,042,216. AXT has a 52 week low of $1.89 and a 52 week high of $5.64. The stock’s 50 day moving average is $2.47 and its 200-day moving average is $3.02. The stock has a market cap of $93.86 million, a price-to-earnings ratio of -6.59 and a beta of 2.23.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $27.92 million for the quarter, compared to the consensus estimate of $26.50 million. AXT had a negative net margin of 14.75% and a negative return on equity of 5.87%. During the same period last year, the company posted ($0.12) EPS. As a group, analysts forecast that AXT will post -0.19 EPS for the current year.

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.