AXT Inc (NASDAQ:AXTI) Given Average Recommendation of “Buy” by Analysts
Shares of AXT Inc (NASDAQ:AXTI) have been given a consensus rating of “Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.25.
Several research analysts have recently commented on AXTI shares. B. Riley raised AXT from a “neutral” rating to a “buy” rating in a report on Monday, March 27th. BWS Financial assumed coverage on AXT in a research note on Tuesday, April 11th. They issued a “buy” rating and a $10.00 target price for the company. Needham & Company LLC upped their target price 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. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research note on Saturday, June 17th.
AXT (NASDAQ:AXTI) traded up 0.338% during midday trading on Monday, hitting $7.425. 76,945 shares of the stock were exchanged. The company has a market capitalization of $284.05 million, a P/E ratio of 39.919 and a beta of 1.01. AXT has a 1-year low of $3.36 and a 1-year high of $8.65. The company’s 50 day moving average is $6.67 and its 200 day moving average is $6.42.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data 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. AXT had a return on equity of 4.37% and a net margin of 7.52%. The company had revenue of $20.60 million during the quarter, compared to analyst estimates of $18.45 million. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts predict that AXT will post $0.19 earnings per share for the current fiscal year.
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In other news, Director Leonard J. Leblanc sold 5,000 shares of the stock in a transaction 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 directly owns 149,134 shares of the company’s stock, valued at $1,084,204.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert G. Ochrym sold 7,500 shares of the stock in a transaction on Tuesday, May 23rd. The stock was 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 $270,270. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC boosted its stake in AXT by 35.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 782,534 shares of the semiconductor company’s stock worth $4,539,000 after buying an additional 203,674 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in AXT by 86.9% in the first quarter. Alambic Investment Management L.P. now owns 143,811 shares of the semiconductor company’s stock worth $834,000 after buying an additional 66,879 shares in the last quarter. Hood River Capital Management LLC bought a new stake in AXT during the first quarter worth approximately $5,699,000. TFS Capital LLC boosted its stake in AXT by 98.8% in the first quarter. TFS Capital LLC now owns 73,654 shares of the semiconductor company’s stock worth $427,000 after buying an additional 36,597 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in AXT during the first quarter worth approximately $1,054,000. 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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