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

AXT, Inc. (NASDAQ:AXTI) has been assigned a consensus recommendation of “Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.30.

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

AXT Trading Down 1.7 %

Shares of AXT stock opened at $2.27 on Friday. The company’s fifty day simple moving average is $2.22 and its 200-day simple moving average is $2.68. AXT has a 1 year low of $1.73 and a 1 year high of $5.64. The company has a market cap of $101.58 million, a price-to-earnings ratio of -9.08 and a beta of 2.15.

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

Institutional Investors Weigh In On AXT

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC bought a new position in AXT during the 3rd quarter valued at about $85,000. Bailard Inc. acquired a new stake in shares of AXT during the second quarter worth approximately $122,000. Creative Planning bought a new position in shares of AXT in the third quarter valued at approximately $127,000. Assenagon Asset Management S.A. raised its stake in shares of AXT by 26.5% in the third quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after acquiring an additional 13,376 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of AXT in the 2nd quarter worth approximately $468,000. Institutional investors and hedge funds 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.