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

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. “

A number of other research analysts have also commented on AXTI. B. Riley reaffirmed a “neutral” rating and set a $8.50 price target on shares of AXT in a research report on Tuesday, August 1st. BidaskClub lowered AXT from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research report on Saturday, June 17th. BWS Financial increased their target price on AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Needham & Company LLC increased their target price on AXT from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $9.04.

Shares of AXT (NASDAQ:AXTI) traded down 0.66% during midday trading on Thursday, reaching $7.55. The company’s stock had a trading volume of 842,628 shares. The company has a market capitalization of $289.75 million, a P/E ratio of 37.75 and a beta of 1.08. The company’s 50-day moving average price is $7.42 and its 200 day moving average price is $6.73. AXT has a 12-month low of $3.80 and a 12-month high of $9.50.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. AXT’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. On average, equities research analysts forecast that AXT will post $0.24 earnings per share for the current year.

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In other news, VP Robert G. Ochrym sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 39,000 shares of the company’s stock, valued at approximately $270,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David C. Chang sold 9,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total value of $79,200.00. Following the completion of the transaction, the director now directly owns 164,807 shares of the company’s stock, valued at approximately $1,450,301.60. The disclosure for this sale can be found here. Insiders sold a total of 109,396 shares of company stock valued at $924,507 in the last three months. Corporate insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of AXT by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,877,282 shares of the semiconductor company’s stock valued at $18,271,000 after buying an additional 284,259 shares in the last quarter. Vanguard Group Inc. raised its position in shares of AXT by 11.8% in the second quarter. Vanguard Group Inc. now owns 1,629,223 shares of the semiconductor company’s stock valued at $10,346,000 after buying an additional 172,194 shares in the last quarter. Northpointe Capital LLC raised its position in shares of AXT by 44.1% in the second quarter. Northpointe Capital LLC now owns 1,123,791 shares of the semiconductor company’s stock valued at $7,136,000 after buying an additional 343,758 shares in the last quarter. Kennedy Capital Management Inc. purchased a new position in shares of AXT during the first quarter valued at about $6,084,000. Finally, Hood River Capital Management LLC raised its position in shares of AXT by 2.7% in the second quarter. Hood River Capital Management LLC now owns 1,009,019 shares of the semiconductor company’s stock valued at $6,407,000 after buying an additional 26,398 shares in the last quarter. 56.73% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for AXT (NASDAQ:AXTI)

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