AXT’s (AXTI) Outperform Rating Reiterated at Wedbush

AXT (NASDAQ:AXTI)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $4.50 target price on the semiconductor company’s stock. Wedbush’s target price would suggest a potential upside of 221.43% from the stock’s previous close.

AXTI has been the subject of several other reports. StockNews.com upgraded AXT to a “sell” rating in a research note on Friday, April 25th. B. Riley reissued a “buy” rating and set a $6.00 price target (up from $5.50) on shares of AXT in a research report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of AXT in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.13.

AXT Stock Up 3.7 %

AXTI stock opened at $1.40 on Tuesday. AXT has a 52 week low of $1.13 and a 52 week high of $4.23. The stock has a market capitalization of $63.84 million, a PE ratio of -5.00 and a beta of 2.36. The firm has a 50 day moving average of $1.45 and a 200 day moving average of $1.94.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The company had revenue of $25.11 million for the quarter, compared to analyst estimates of $23.94 million. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. On average, equities research analysts expect that AXT will post -0.12 earnings per share for the current year.

Institutional Trading of AXT

Several large investors have recently bought and sold shares of the business. Pacific Ridge Capital Partners LLC increased its stake in shares of AXT by 65.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company’s stock worth $4,204,000 after acquiring an additional 766,122 shares during the last quarter. Systematic Financial Management LP increased its position in AXT by 5.0% during the fourth quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company’s stock worth $3,366,000 after purchasing an additional 74,211 shares during the last quarter. Kennedy Capital Management LLC raised its stake in AXT by 13.1% during the fourth quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company’s stock worth $1,987,000 after purchasing an additional 106,121 shares during the period. White Pine Capital LLC boosted its holdings in AXT by 0.8% in the 4th quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company’s stock valued at $1,451,000 after purchasing an additional 5,246 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in AXT by 18.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 606,365 shares of the semiconductor company’s stock valued at $1,316,000 after purchasing an additional 96,195 shares during the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

About AXT

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.