AXT Inc (AXTI) Receives Consensus Rating of “Buy” from Brokerages

AXT Inc (NASDAQ:AXTI) has earned an average recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.58.

Several analysts have recently weighed in on the company. B. Riley reiterated a “hold” rating and set a $8.50 target price on shares of AXT in a research report on Tuesday, October 24th. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research report on Wednesday, December 27th. BidaskClub downgraded AXT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of AXT in a research report on Sunday, September 17th.

Shares of AXT (AXTI) opened at $8.95 on Monday. AXT has a 52-week low of $5.10 and a 52-week high of $10.75. The firm has a market capitalization of $348.08, a price-to-earnings ratio of 37.29, a PEG ratio of 1.17 and a beta of 1.11.

AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. AXT had a return on equity of 5.67% and a net margin of 9.96%. The business had revenue of $28.17 million during the quarter, compared to the consensus estimate of $27.05 million. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. equities analysts expect that AXT will post 0.25 EPS for the current fiscal year.

In related news, VP Robert G. Ochrym sold 8,125 shares of AXT stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $8.80, for a total value of $71,500.00. Following the completion of the sale, the vice president now directly owns 44,125 shares in the company, valued at $388,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Morris S. Young sold 50,000 shares of AXT stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $8.86, for a total value of $443,000.00. The disclosure for this sale can be found here. Insiders sold 133,375 shares of company stock valued at $1,216,235 over the last 90 days. 6.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in AXTI. Voya Investment Management LLC bought a new stake in shares of AXT in the second quarter valued at about $100,000. Gotham Asset Management LLC raised its holdings in shares of AXT by 35.5% in the second quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 6,182 shares in the last quarter. Nationwide Fund Advisors raised its holdings in shares of AXT by 278.0% in the second quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 20,892 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of AXT by 15,013.0% in the second quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock valued at $192,000 after acquiring an additional 30,026 shares in the last quarter. Finally, Hancock Holding Co. bought a new stake in shares of AXT in the second quarter valued at about $197,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.

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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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