AXT Inc (NASDAQ:AXTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $9.75 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.72% from the company’s current price.

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 analysts have also recently weighed in on AXTI. B. Riley reissued a “neutral” rating and issued a $8.50 price objective on shares of AXT in a research report on Tuesday, August 1st. BidaskClub cut AXT from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Dougherty & Co reissued a “buy” rating on shares of AXT in a research report on Saturday, June 17th. Finally, BWS Financial raised their price objective on AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. AXT has a consensus rating of “Buy” and a consensus target price of $9.04.

AXT (AXTI) traded up 2.33% on Friday, hitting $8.80. The stock had a trading volume of 639,909 shares. The company has a 50-day moving average price of $7.91 and a 200 day moving average price of $6.91. AXT has a 52-week low of $4.35 and a 52-week high of $9.50. The firm has a market cap of $337.72 million, a PE ratio of 44.00 and a beta of 1.13.

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

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In other AXT news, Director David C. Chang sold 9,000 shares of AXT stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total transaction of $79,200.00. Following the completion of the transaction, the director now owns 164,807 shares in the company, valued at approximately $1,450,301.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Morris S. Young sold 92,896 shares of AXT stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $8.54, for a total value of $793,331.84. Following the transaction, the chief executive officer now owns 1,213,200 shares of the company’s stock, valued at approximately $10,360,728. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC purchased a new position in shares of AXT during the 2nd quarter valued at about $100,000. Gotham Asset Management LLC purchased a new position in shares of AXT during the 1st quarter valued at about $101,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of AXT during the 4th quarter valued at about $104,000. SG Americas Securities LLC purchased a new position in shares of AXT during the 1st quarter valued at about $105,000. Finally, Alambic Investment Management L.P. raised its stake in shares of AXT by 63.0% during the 3rd quarter. Alambic Investment Management L.P. now owns 20,700 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 61.87% of the company’s stock.

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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