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

AXT, Inc. (NASDAQ:AXTI) has received a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $5.30.

A number of equities research analysts have recently issued reports on the stock. Northland Securities cut their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of AXT in a report on Friday, November 1st.

AXT Stock Up 8.0 %

Shares of NASDAQ AXTI opened at $2.44 on Wednesday. AXT has a fifty-two week low of $1.73 and a fifty-two week high of $5.64. The business has a 50 day moving average price of $2.14 and a two-hundred day moving average price of $2.48. The firm has a market cap of $109.19 million, a PE ratio of -9.76 and a beta of 2.10.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $23.65 million for the quarter, compared to analyst estimates of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same period in the previous year, the business posted ($0.14) EPS. On average, analysts anticipate that AXT will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On AXT

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Systematic Financial Management LP lifted its holdings in shares of AXT by 13.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock worth $3,575,000 after purchasing an additional 169,406 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in AXT by 10.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock worth $1,468,000 after buying an additional 54,891 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AXT by 1.7% during the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock valued at $1,123,000 after acquiring an additional 7,577 shares during the period. Renaissance Technologies LLC grew its position in shares of AXT by 1,142.1% during the second quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock worth $1,276,000 after acquiring an additional 347,200 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in shares of AXT by 25.1% in the 3rd quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock worth $730,000 after acquiring an additional 60,623 shares during the period. 49.52% of the stock is currently owned by institutional investors and hedge funds.

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.