AXT (NASDAQ:AXTI) Earns Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of AXT (NASDAQ:AXTI) in a report issued on Friday, Benzinga reports. The firm currently has a $6.00 price objective on the semiconductor company’s stock.

Other equities analysts have also issued reports about the stock. B. Riley raised their price target on shares of AXT from $3.80 to $5.50 and gave the stock a buy rating in a research report on Friday, April 5th. Needham & Company LLC reaffirmed a buy rating and issued a $5.00 price objective on shares of AXT in a report on Friday. StockNews.com lowered AXT from a hold rating to a sell rating in a report on Saturday, March 2nd. Finally, Craig Hallum boosted their price target on AXT from $3.75 to $5.00 and gave the company a buy rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, AXT currently has a consensus rating of Moderate Buy and a consensus price target of $5.38.

AXT Stock Up 20.8 %

Shares of NASDAQ:AXTI opened at $3.66 on Friday. AXT has a 12-month low of $1.89 and a 12-month high of $5.64. The business has a 50 day moving average of $4.03 and a 200-day moving average of $2.94. The stock has a market cap of $161.96 million, a PE ratio of -9.15 and a beta of 2.28.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. AXT had a negative return on equity of 7.36% and a negative net margin of 21.01%. The business had revenue of $22.69 million during the quarter, compared to analysts’ expectations of $21.00 million. During the same period last year, the firm posted ($0.08) EPS. Equities research analysts expect that AXT will post -0.1 earnings per share for the current year.

Institutional Trading of AXT

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its stake in AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 2,500 shares in the last quarter. Byrne Asset Management LLC acquired a new position in AXT in the 1st quarter worth about $28,000. Brookstone Capital Management bought a new position in AXT in the fourth quarter valued at about $37,000. James Investment Research Inc. acquired a new stake in shares of AXT during the third quarter valued at about $38,000. Finally, Brown Advisory Inc. bought a new stake in shares of AXT during the fourth quarter worth about $50,000. 49.52% of the stock is currently owned by institutional investors.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.