AXT Inc (NASDAQ:AXTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “

Several other research analysts also recently commented on the company. B. Riley downgraded AXT from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.25 to $7.00 in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of AXT in a research note on Thursday. Finally, Dougherty & Co began coverage on AXT in a research note on Monday, February 13th. They issued a “buy” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. AXT has a consensus rating of “Buy” and an average target price of $7.80.

Analyst Recommendations for AXT (NASDAQ:AXTI)

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Shares of AXT (NASDAQ:AXTI) traded up 3.60% during mid-day trading on Monday, hitting $5.75. 2,270,130 shares of the stock were exchanged. AXT has a 12 month low of $2.43 and a 12 month high of $8.65. The stock has a market cap of $188.07 million, a price-to-earnings ratio of 33.82 and a beta of 1.25. The company has a 50-day moving average price of $6.64 and a 200-day moving average price of $5.50.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. AXT had a return on equity of 1.62% and a net margin of 2.75%. The firm earned $20.30 million during the quarter, compared to the consensus estimate of $19.09 million. During the same period in the prior year, the company earned ($0.04) EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. Equities analysts expect that AXT will post $0.19 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of AXT during the fourth quarter worth about $1,534,000. Royce & Associates LP increased its stake in shares of AXT by 63.9% in the fourth quarter. Royce & Associates LP now owns 697,857 shares of the company’s stock worth $3,350,000 after buying an additional 272,180 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AXT by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,251,705 shares of the company’s stock worth $10,808,000 after buying an additional 263,232 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of AXT during the third quarter worth about $983,000. Finally, Allianz Asset Management AG bought a new stake in shares of AXT during the fourth quarter worth about $886,000. 46.97% of the stock is owned by institutional investors and hedge funds.

About AXT

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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