AXT, Inc. (NASDAQ:AXTI) Receives $5.10 Consensus Price Target from Brokerages

Shares of AXT, Inc. (NASDAQ:AXTI) have earned an average recommendation of “Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.10.

Several analysts have commented on AXTI shares. Wedbush restated an “outperform” rating and issued a $4.50 price objective (down from $5.50) on shares of AXT in a report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday, February 21st. Finally, B. Riley restated a “buy” rating and issued a $6.00 price objective (up from $5.50) on shares of AXT in a report on Friday, February 21st.

Hedge Funds Weigh In On AXT

Hedge funds have recently added to or reduced their stakes in the company. Canandaigua National Bank & Trust Co. purchased a new position in AXT in the 4th quarter worth approximately $28,000. Bleakley Financial Group LLC purchased a new position in AXT in the 4th quarter worth approximately $29,000. Atlas Brown Inc. bought a new stake in AXT in the 4th quarter worth approximately $42,000. Virtu Financial LLC bought a new stake in AXT in the 4th quarter worth approximately $54,000. Finally, Jane Street Group LLC bought a new stake in AXT in the 4th quarter worth approximately $60,000. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

AXT Price Performance

NASDAQ AXTI opened at $1.62 on Thursday. The stock has a market capitalization of $72.50 million, a PE ratio of -5.79 and a beta of 2.17. AXT has a 1 year low of $1.29 and a 1 year high of $5.64. The business’s 50-day moving average is $2.03 and its 200 day moving average is $2.22.

AXT (NASDAQ:AXTI) last posted its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business had revenue of $25.11 million during the quarter, compared to the consensus estimate of $23.94 million. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. As a group, equities research analysts anticipate that AXT will post -0.12 earnings per share for the current 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.