AXT Inc (NASDAQ:AXTI) Stock Rating Reaffirmed by B. Riley
AXT Inc (NASDAQ:AXTI)‘s stock had its “neutral” rating reiterated by equities research analysts at B. Riley in a research note issued on Friday. They presently have a $7.00 target price on the semiconductor company’s stock. B. Riley’s price objective would indicate a potential downside of 5.41% from the stock’s current price.
Several other equities research analysts have also commented on AXTI. BWS Financial started coverage on AXT in a research note on Tuesday, April 11th. They set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC boosted their price target on AXT from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. Zacks Investment Research lowered AXT from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. Dougherty & Co reissued a “buy” rating on shares of AXT in a research note on Saturday, June 17th. Finally, BidaskClub raised AXT from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $8.13.
AXT (NASDAQ AXTI) opened at 7.40 on Friday. AXT has a one year low of $3.36 and a one year high of $8.65. The firm’s 50 day moving average price is $6.67 and its 200-day moving average price is $6.42. The firm has a market cap of $283.09 million, a PE ratio of 39.78 and a beta of 1.01.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, April 26th. The semiconductor company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $20.60 million for the quarter, compared to analyst estimates of $18.45 million. AXT had a return on equity of 4.37% and a net margin of 7.52%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts predict that AXT will post $0.19 EPS for the current fiscal year.
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In related news, Director Leonard J. Leblanc sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.27, for a total value of $36,350.00. Following the sale, the director now owns 149,134 shares of the company’s stock, valued at approximately $1,084,204.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert G. Ochrym sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $6.93, for a total value of $51,975.00. Following the completion of the sale, the vice president now directly owns 39,000 shares in the company, valued at approximately $270,270. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC raised its stake in AXT by 6.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 654,410 shares of the semiconductor company’s stock worth $1,623,000 after buying an additional 38,010 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in AXT during the fourth quarter worth about $1,534,000. ClariVest Asset Management LLC raised its stake in AXT by 43.4% in the third quarter. ClariVest Asset Management LLC now owns 369,640 shares of the semiconductor company’s stock worth $1,918,000 after buying an additional 111,959 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in AXT during the third quarter worth about $983,000. Finally, Wells Fargo & Company MN raised its stake in AXT by 720.3% in the third quarter. Wells Fargo & Company MN now owns 195,225 shares of the semiconductor company’s stock worth $1,013,000 after buying an additional 171,425 shares during the last quarter. 54.32% of the stock is currently owned by hedge funds and other institutional investors.
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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