Northland Securities Issues Pessimistic Forecast for AXT (NASDAQ:AXTI) Stock Price

AXT (NASDAQ:AXTI) had its price target decreased by Northland Securities from $6.00 to $5.00 in a research note issued to investors on Friday, Benzinga reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

A number of other analysts have also commented on the company. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of AXT in a report on Monday, July 29th. StockNews.com cut AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Friday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.30.

AXT Stock Down 4.7 %

Shares of AXTI stock opened at $2.01 on Friday. The business’s fifty day moving average is $2.44 and its 200 day moving average is $3.01. The stock has a market cap of $89.40 million, a price-to-earnings ratio of -8.04 and a beta of 2.22. AXT has a twelve month low of $1.93 and a twelve month high of $5.64.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The business had revenue of $23.65 million during the quarter, compared to the consensus estimate of $25.98 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Equities research analysts expect that AXT will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AXT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its stake in AXT by 833.3% in the second quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock worth $919,000 after acquiring an additional 243,226 shares during the period. Renaissance Technologies LLC lifted its stake 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 buying an additional 347,200 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in AXT during the 2nd quarter valued at about $468,000. Bailard Inc. purchased a new stake in shares of AXT in the 2nd quarter valued at $122,000. Finally, Quadrature Capital Ltd grew its position in AXT by 208.6% during the 1st quarter. Quadrature Capital Ltd now owns 115,388 shares of the semiconductor company’s stock worth $530,000 after purchasing an additional 78,001 shares during the period. 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.