Analysts Set AXT, Inc. (NASDAQ:AXTI) Target Price at $5.38

Shares of AXT, Inc. (NASDAQ:AXTI) have been given a consensus rating of “Buy” by the four research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $5.38.

Several analysts have issued reports on AXTI shares. Wedbush restated an “outperform” rating and set a $6.00 price objective on shares of AXT in a report on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of AXT in a report on Friday, May 3rd. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. B. Riley upped their target price on AXT from $3.80 to $5.50 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Craig Hallum boosted their price target on AXT from $3.75 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th.

AXT Trading Down 4.2 %

NASDAQ AXTI opened at $3.38 on Thursday. The stock’s 50-day moving average price is $3.47 and its two-hundred day moving average price is $3.35. The company has a market cap of $150.07 million, a PE ratio of -8.45 and a beta of 2.26. AXT has a 1 year low of $1.89 and a 1 year high of $5.64.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. AXT had a negative return on equity of 7.40% and a negative net margin of 21.01%. During the same quarter in the previous year, the company earned ($0.08) EPS. Research analysts forecast that AXT will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On AXT

Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its position in shares of AXT by 866.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,570 shares of the semiconductor company’s stock valued at $616,000 after acquiring an additional 230,013 shares during the period. Brookstone Capital Management bought a new stake in shares of AXT in the fourth quarter valued at approximately $37,000. First Wilshire Securities Management Inc. boosted its position 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 acquiring an additional 779,548 shares during the period. Brown Advisory Inc. bought a new stake in shares of AXT in the fourth quarter valued at approximately $50,000. Finally, GSA Capital Partners LLP boosted its position in shares of AXT by 127.3% in the third quarter. GSA Capital Partners LLP now owns 377,321 shares of the semiconductor company’s stock valued at $906,000 after acquiring an additional 211,351 shares during the period. 49.52% of the stock is owned by institutional investors.

About AXT

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.