AXT, Inc. (NASDAQ:AXTI) Receives Average Recommendation of “Buy” from Brokerages

AXT, Inc. (NASDAQ:AXTI) has received a consensus recommendation of “Buy” from the four brokerages that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.38.

Several analysts recently issued reports on AXTI shares. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of AXT in a report on Friday, May 3rd. Craig Hallum boosted their price objective on shares of AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. StockNews.com upgraded AXT from a “sell” rating to a “hold” rating in a research note on Monday. B. Riley increased their price target on shares of AXT from $3.80 to $5.50 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of AXT in a research report on Friday, May 3rd.

Institutional Investors Weigh In On AXT

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of AXT by 866.1% during the fourth 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. Brookstone Capital Management bought a new position in shares of AXT during the 4th quarter valued at about $37,000. First Wilshire Securities Management Inc. boosted its holdings in shares of AXT by 30.8% in the fourth quarter. First Wilshire Securities Management Inc. now owns 3,306,715 shares of the semiconductor company’s stock valued at $7,936,000 after buying an additional 779,548 shares during the period. Brown Advisory Inc. acquired a new position in AXT in the 4th quarter worth $50,000. Finally, Quadrature Capital Ltd boosted its position in shares of AXT by 46.6% during the fourth quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock worth $90,000 after buying an additional 11,892 shares during the period. Institutional investors own 49.52% of the company’s stock.

AXT Trading Up 2.4 %

Shares of AXT stock opened at $3.44 on Thursday. AXT has a 1 year low of $1.89 and a 1 year high of $5.64. The company has a market cap of $152.74 million, a P/E ratio of -8.60 and a beta of 2.29. The stock has a 50-day moving average price of $3.50 and a 200 day moving average price of $3.37.

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