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

AXT, Inc. (NASDAQ:AXTI) has been given a consensus recommendation of “Buy” by the five ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $5.10.

A number of equities analysts have issued reports on AXTI shares. B. Riley reiterated a “buy” rating and set a $6.00 target price (up previously from $5.50) on shares of AXT in a report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of AXT in a report on Friday, February 21st. Finally, Wedbush reiterated an “outperform” rating and set a $4.50 target price (down previously from $5.50) on shares of AXT in a report on Friday, February 21st.

Hedge Funds Weigh In On AXT

Hedge funds have recently modified their holdings of the stock. Canandaigua National Bank & Trust Co. bought a new position in shares of AXT in the 4th quarter valued at about $28,000. Bleakley Financial Group LLC bought a new position in shares of AXT in the 4th quarter valued at about $29,000. Atlas Brown Inc. bought a new position in shares of AXT in the 4th quarter valued at about $42,000. Virtu Financial LLC bought a new position in shares of AXT in the 4th quarter valued at about $54,000. Finally, Jane Street Group LLC bought a new position in shares of AXT in the 4th quarter valued at about $60,000. Institutional investors own 49.52% of the company’s stock.

AXT Trading Down 1.2 %

Shares of AXT stock opened at $1.60 on Thursday. The company has a market capitalization of $71.60 million, a PE ratio of -5.71 and a beta of 2.17. AXT has a 12 month low of $1.29 and a 12 month high of $5.64. The stock’s fifty day simple moving average is $2.00 and its 200 day simple moving average is $2.19.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business had revenue of $25.11 million for the quarter, compared to analyst estimates of $23.94 million. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. Analysts predict that AXT will post -0.12 EPS for the current fiscal year.

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.