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

Several other brokerages have also recently issued reports on AXTI. B. Riley reissued a “neutral” rating and issued a $8.50 price objective on shares of AXT in a research note on Tuesday, August 1st. BidaskClub raised AXT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. BWS Financial increased their target price on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research report on Saturday, June 17th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. AXT currently has an average rating of “Buy” and an average target price of $8.83.

Shares of AXT (AXTI) traded down 0.57% on Thursday, reaching $8.65. The company’s stock had a trading volume of 339,646 shares. The firm has a 50-day moving average price of $7.84 and a 200 day moving average price of $6.88. The firm has a market capitalization of $331.96 million, a PE ratio of 43.25 and a beta of 1.13. AXT has a one year low of $4.17 and a one year high of $9.50.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. AXT had a return on equity of 4.61% and a net margin of 8.15%. The company had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $22.55 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. AXT’s revenue was up 14.9% compared to the same quarter last year. On average, analysts anticipate that AXT will post $0.24 earnings per share for the current fiscal year.

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In other AXT news, CEO Morris S. Young sold 92,896 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $8.54, for a total transaction of $793,331.84. Following the sale, the chief executive officer now owns 1,213,200 shares of the company’s stock, valued at approximately $10,360,728. The sale was disclosed in a legal 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 on Tuesday, August 1st. The shares were sold at an average price of $8.80, for a total value of $79,200.00. Following the sale, the director now directly owns 164,807 shares in the company, valued at approximately $1,450,301.60. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd acquired a new stake in shares of AXT in the 1st quarter worth $173,000. Geode Capital Management LLC raised its stake in AXT by 12.1% in the 1st quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock worth $1,252,000 after acquiring an additional 23,341 shares during the last quarter. Alambic Investment Management L.P. raised its stake in AXT by 86.9% in the 1st quarter. Alambic Investment Management L.P. now owns 143,811 shares of the semiconductor company’s stock worth $834,000 after acquiring an additional 66,879 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in AXT by 216.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 155,687 shares of the semiconductor company’s stock worth $903,000 after acquiring an additional 106,426 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in AXT by 34.2% in the 1st quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock worth $2,092,000 after acquiring an additional 91,945 shares during the last quarter. 61.87% of the stock is 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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Analyst Recommendations for AXT (NASDAQ:AXTI)

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