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

Shares of AXT, Inc. (NASDAQ:AXTI) have been assigned an average recommendation of “Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $5.10.

A number of research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $4.50 price objective (down previously from $5.50) on shares of AXT in a report on Friday, February 21st. StockNews.com upgraded shares of AXT to a “sell” rating in a research note on Thursday, March 27th. B. Riley reiterated a “buy” rating and issued a $6.00 price objective (up from $5.50) on shares of AXT in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of AXT in a research note on Friday, February 21st.

AXT Trading Down 10.8 %

Shares of NASDAQ AXTI opened at $1.24 on Monday. The stock has a market capitalization of $56.54 million, a PE ratio of -4.43 and a beta of 2.36. AXT has a twelve month low of $1.18 and a twelve month high of $4.23. The stock has a fifty day simple moving average of $1.79 and a 200-day simple moving average of $2.09.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The firm had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $23.94 million. AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. On average, equities analysts predict that AXT will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On AXT

Institutional investors have recently modified their holdings of the company. Pacific Ridge Capital Partners LLC raised its stake in AXT by 65.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company’s stock valued at $4,204,000 after buying an additional 766,122 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of AXT in the 4th quarter valued at about $628,000. Systematic Financial Management LP raised its position in shares of AXT by 13.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock worth $3,575,000 after acquiring an additional 169,406 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in AXT by 13.1% during the fourth quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company’s stock worth $1,987,000 after purchasing an additional 106,121 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in AXT by 18.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 606,365 shares of the semiconductor company’s stock valued at $1,316,000 after purchasing an additional 96,195 shares in the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.