AXT, Inc. (NASDAQ:AXTI) Receives $5.30 Consensus Target Price from Analysts

Shares of AXT, Inc. (NASDAQ:AXTI - Get Free Report) have been given a consensus recommendation of "Buy" by the five analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.30.

AXTI has been the subject of several recent analyst reports. Northland Securities lowered their price target on AXT from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Needham & Company LLC restated a "buy" rating and set a $5.00 target price on shares of AXT in a report on Friday, November 1st. Finally, StockNews.com cut shares of AXT from a "hold" rating to a "sell" rating in a report on Monday, September 30th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in AXT by 1,142.1% during the 2nd quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company's stock worth $1,276,000 after buying an additional 347,200 shares in the last quarter. Acadian Asset Management LLC boosted its position in AXT by 833.3% during the second quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company's stock valued at $919,000 after purchasing an additional 243,226 shares during the last quarter. Systematic Financial Management LP grew its stake in AXT by 13.0% in the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company's stock valued at $3,575,000 after purchasing an additional 169,406 shares in the last quarter. Legato Capital Management LLC acquired a new position in shares of AXT during the 2nd quarter worth approximately $503,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of AXT during the 2nd quarter worth approximately $468,000. Institutional investors and hedge funds own 49.52% of the company's stock.

AXT Stock Up 2.8 %

AXT stock traded up $0.06 during midday trading on Friday, hitting $2.18. 237,831 shares of the stock were exchanged, compared to its average volume of 952,016. The stock has a market capitalization of $97.56 million, a PE ratio of -8.72 and a beta of 2.15. The company has a fifty day simple moving average of $2.23 and a two-hundred day simple moving average of $2.70. AXT has a 52 week low of $1.73 and a 52 week high of $5.64.

AXT (NASDAQ:AXTI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The firm had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. During the same period in the prior year, the business earned ($0.14) earnings per share. As a group, equities research analysts anticipate that AXT will post -0.22 EPS for the current fiscal year.

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.