AXT, Inc. (NASDAQ:AXTI) Receives $5.30 Consensus Target Price from Brokerages

AXT, Inc. (NASDAQ:AXTI) has received an average recommendation of “Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.30.

A number of analysts have commented on AXTI shares. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of AXT in a research report on Friday, November 1st. Northland Securities dropped their target price on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th.

AXT Price Performance

AXTI opened at $2.04 on Tuesday. AXT has a 12 month low of $1.73 and a 12 month high of $5.64. The stock’s 50 day moving average price is $2.29 and its 200 day moving average price is $2.86. The stock has a market cap of $91.29 million, a P/E ratio of -8.16 and a beta of 2.22.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $23.65 million for the quarter, compared to analyst estimates of $25.98 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. During the same period last year, the business posted ($0.14) earnings per share. Equities analysts anticipate that AXT will post -0.22 EPS for the current year.

Institutional Trading of AXT

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of AXT in the first quarter valued at $52,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of AXT during the first quarter valued at $93,000. Vanguard Group Inc. boosted its position in shares of AXT by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock valued at $10,540,000 after purchasing an additional 20,747 shares during the period. Quadrature Capital Ltd increased its stake in AXT by 208.6% in 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 in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in AXT by 9.2% during the 1st quarter. Kennedy Capital Management LLC now owns 605,642 shares of the semiconductor company’s stock worth $2,780,000 after buying an additional 50,975 shares during the period. 49.52% of the stock is currently owned by institutional investors.

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.