StockNews.com Upgrades AXT (NASDAQ:AXTI) to “Hold”

AXT (NASDAQ:AXTI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Other equities research analysts have also recently issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of AXT in a report on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of AXT in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

AXT Stock Down 3.7 %

AXTI stock opened at $2.10 on Friday. The business has a 50 day moving average of $2.78 and a 200-day moving average of $3.40. The firm has a market cap of $93.24 million, a PE ratio of -5.25 and a beta of 2.23. AXT has a 12-month low of $1.89 and a 12-month high of $5.64.

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

Institutional Investors Weigh In On AXT

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of AXT by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 2,500 shares during the period. Byrne Asset Management LLC boosted its position in shares of AXT by 125.0% in the second 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. Brown Advisory Inc. bought a new stake in AXT during the 4th quarter worth approximately $50,000. SG Americas Securities LLC purchased a new stake in AXT in the 1st quarter worth approximately $52,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in AXT in the 1st quarter valued at $77,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

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.