Analysts Set AXT, Inc. (NASDAQ:AXTI) Target Price at $5.38

AXT, Inc. (NASDAQ:AXTI) has been given a consensus recommendation of “Buy” by the four brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.38.

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of AXT in a research report on Friday, May 3rd. Craig Hallum upped their target price on AXT from $3.75 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of AXT in a research note on Friday, May 3rd. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Finally, B. Riley raised their target price on shares of AXT from $3.80 to $5.50 and gave the company a “buy” rating in a report on Friday, April 5th.

AXT Trading Down 1.2 %

Shares of NASDAQ AXTI opened at $3.25 on Monday. AXT has a 1-year low of $1.89 and a 1-year high of $5.64. The firm has a market cap of $144.30 million, a P/E ratio of -8.13 and a beta of 2.29. The business’s 50 day moving average is $3.55 and its 200-day moving average is $3.50.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $22.69 million for the quarter, compared to analyst estimates of $21.00 million. AXT had a negative net margin of 21.01% and a negative return on equity of 7.40%. During the same period last year, the firm earned ($0.08) earnings per share. Analysts forecast that AXT will post -0.2 EPS for the current year.

Institutional Trading of AXT

Large investors have recently bought and sold shares of the business. Brookstone Capital Management acquired a new position in AXT during the fourth quarter worth about $37,000. Assenagon Asset Management S.A. increased its position in AXT by 866.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,570 shares of the semiconductor company’s stock worth $616,000 after purchasing an additional 230,013 shares in the last quarter. White Pine Capital LLC lifted its stake in AXT by 35.9% in the 4th quarter. White Pine Capital LLC now owns 612,630 shares of the semiconductor company’s stock valued at $1,470,000 after purchasing an additional 161,893 shares during the last quarter. Brown Advisory Inc. acquired a new stake in AXT in the fourth quarter valued at approximately $50,000. Finally, Franklin Resources Inc. grew its stake in shares of AXT by 47.0% during the fourth quarter. Franklin Resources Inc. now owns 465,948 shares of the semiconductor company’s stock worth $1,118,000 after buying an additional 149,048 shares during the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

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.