AXT Inc. (AXTI) Given “Buy” Rating at B. Riley
AXT Inc. (NASDAQ:AXTI)‘s stock had its “buy” rating reiterated by B. Riley in a note issued to investors on Wednesday. They currently have a $6.25 price target on the stock. B. Riley’s target price indicates a potential upside of 6.84% from the company’s current price.
AXTI has been the topic of a number of other reports. Needham & Company LLC upgraded AXT from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Thursday, July 28th. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Tuesday, July 12th. Finally, Northland Securities lifted their target price on AXT from $4.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, September 29th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $5.81.
AXT (NASDAQ:AXTI) traded down 1.35% during midday trading on Wednesday, reaching $5.85. The company’s stock had a trading volume of 405,084 shares. The firm’s market capitalization is $187.43 million. The stock’s 50-day moving average price is $4.69 and its 200-day moving average price is $3.58. AXT has a 12 month low of $2.06 and a 12 month high of $5.97.
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AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm earned $20.50 million during the quarter, compared to analyst estimates of $19.97 million. AXT had a negative return on equity of 0.01% and a negative net margin of 0.01%. The firm’s revenue was down 2.4% on a year-over-year basis. Analysts predict that AXT will post $0.13 EPS for the current year.
In other news, VP Robert G. Ochrym sold 26,577 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $4.39, for a total value of $116,673.03. Following the completion of the sale, the vice president now owns 55,577 shares of the company’s stock, valued at $243,983.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.29% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of AXTI. A.R.T. Advisors LLC acquired a new stake in shares of AXT during the second quarter valued at approximately $101,000. Acadian Asset Management LLC acquired a new stake in shares of AXT during the second quarter valued at approximately $158,000. Bank of New York Mellon Corp boosted its stake in shares of AXT by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 65,472 shares of the company’s stock valued at $209,000 after buying an additional 805 shares during the period. Coe Capital Management LLC acquired a new stake in shares of AXT during the second quarter valued at approximately $391,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of AXT during the second quarter valued at approximately $822,000. 42.35% of the stock is owned by institutional investors and hedge funds.
AXT Company Profile
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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