Northland Securities Lowers AXT (NASDAQ:AXTI) Price Target to $5.00

AXT (NASDAQ:AXTI) had its price target cut by Northland Securities from $6.00 to $5.00 in a report released on Friday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

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

AXT Price Performance

Shares of NASDAQ:AXTI opened at $2.11 on Friday. The company has a market capitalization of $93.85 million, a price-to-earnings ratio of -8.44 and a beta of 2.22. The business’s 50-day moving average is $2.46 and its 200-day moving average is $3.01. AXT has a 1 year low of $1.89 and a 1 year high of $5.64.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. The business had revenue of $23.65 million during the quarter, compared to analyst estimates of $25.98 million. During the same period in the prior year, the firm earned ($0.14) earnings per share. Analysts anticipate that AXT will post -0.19 EPS for the current year.

Institutional Trading of AXT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in shares of AXT by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 2,500 shares during the period. Byrne Asset Management LLC raised its stake in AXT by 125.0% in the 2nd quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 7,500 shares during the period. SG Americas Securities LLC bought a new stake in AXT in the 1st quarter valued at about $52,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in AXT during the 1st quarter valued at about $77,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in AXT during the 1st quarter valued at about $93,000. 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.