BWS Financial Increases AXT Inc (NASDAQ:AXTI) Price Target to $12.00
AXT Inc (NASDAQ:AXTI) had its price objective upped by research analysts at BWS Financial from $10.00 to $12.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the semiconductor company’s stock. BWS Financial’s price objective suggests a potential upside of 57.89% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Tuesday, May 23rd. BidaskClub raised AXT from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Needham & Company LLC upped their target price on AXT from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. B. Riley reissued a “neutral” rating and issued a $8.50 target price on shares of AXT in a research report on Thursday. Finally, Dougherty & Co reissued a “buy” rating on shares of AXT in a research report on Saturday, June 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.71.
AXT (NASDAQ AXTI) traded up 7.566% on Thursday, reaching $8.175. The company had a trading volume of 2,271,903 shares. The stock’s 50-day moving average is $6.78 and its 200-day moving average is $6.50. The company has a market capitalization of $312.74 million, a P/E ratio of 43.952 and a beta of 1.01. AXT has a 52 week low of $3.51 and a 52 week high of $8.90.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $23.56 million for the quarter, compared to the consensus estimate of $22.55 million. AXT had a return on equity of 4.37% and a net margin of 7.52%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. Equities research analysts forecast that AXT will post $0.19 EPS for the current fiscal year.
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In other news, VP Robert G. Ochrym sold 7,500 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $6.93, for a total transaction of $51,975.00. Following the sale, the vice president now directly owns 39,000 shares of the company’s stock, valued at approximately $270,270. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Leonard J. Leblanc sold 5,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $7.27, for a total transaction of $36,350.00. Following the sale, the director now directly owns 149,134 shares in the company, valued at $1,084,204.18. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in AXT by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,593,023 shares of the semiconductor company’s stock valued at $15,040,000 after buying an additional 341,318 shares during the last quarter. Vanguard Group Inc. raised its stake in AXT by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,457,029 shares of the semiconductor company’s stock valued at $8,450,000 after buying an additional 36,065 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in AXT during the first quarter valued at about $6,084,000. Hood River Capital Management LLC purchased a new stake in AXT during the first quarter valued at about $5,699,000. Finally, Renaissance Technologies LLC raised its stake in AXT by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 918,834 shares of the semiconductor company’s stock valued at $4,410,000 after buying an additional 6,738 shares during the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.
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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