Brokerages Set AXT, Inc. (NASDAQ:AXTI) Target Price at $5.10

Shares of AXT, Inc. (NASDAQ:AXTI - Get Free Report) have been given an average rating of "Buy" by the five brokerages that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.10.

Several equities research analysts have recently commented on the company. StockNews.com upgraded AXT to a "sell" rating in a research note on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and issued a $5.00 target price on shares of AXT in a research note on Friday, February 21st. Wedbush reiterated an "outperform" rating and set a $4.50 price target (down from $5.50) on shares of AXT in a research note on Friday, February 21st. Finally, B. Riley reissued a "buy" rating and set a $6.00 price target (up from $5.50) on shares of AXT in a report on Friday, February 21st.

Institutional Investors Weigh In On AXT

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canandaigua National Bank & Trust Co. purchased a new position in AXT in the 4th quarter valued at approximately $28,000. Bleakley Financial Group LLC purchased a new stake in shares of AXT in the fourth quarter valued at $29,000. Atlas Brown Inc. acquired a new stake in shares of AXT during the fourth quarter valued at $42,000. Virtu Financial LLC purchased a new stake in AXT during the 4th quarter worth about $54,000. Finally, Jane Street Group LLC purchased a new stake in AXT during the 4th quarter worth about $60,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Stock Down 10.8 %

NASDAQ:AXTI traded down $0.15 during trading hours on Monday, reaching $1.24. 666,094 shares of the company's stock were exchanged, compared to its average volume of 513,373. AXT has a 1-year low of $1.20 and a 1-year high of $4.23. The firm has a market capitalization of $56.54 million, a price-to-earnings ratio of -4.43 and a beta of 2.36. The company has a 50-day moving average of $1.79 and a 200 day moving average of $2.09.

AXT (NASDAQ:AXTI - Get Free Report) last announced its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business 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%. Research analysts forecast that AXT will post -0.12 EPS for the current fiscal year.

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.