AXT, Inc. (NASDAQ:AXTI) Given Average Recommendation of "Buy" by Brokerages

Shares of AXT, Inc. (NASDAQ:AXTI - Get Free Report) have received an average recommendation of "Buy" from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.30.

A number of equities analysts have issued reports on AXTI shares. StockNews.com lowered AXT from a "hold" rating to a "sell" rating in a research report on Monday, September 30th. Northland Securities reduced their price objective on shares of AXT from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $5.00 price objective on shares of AXT in a report on Friday, November 1st.

AXT Price Performance

AXT stock traded up $0.21 during midday trading on Wednesday, hitting $2.25. 386,212 shares of the stock were exchanged, compared to its average volume of 246,185. AXT has a 1 year low of $1.73 and a 1 year high of $5.64. The firm has a market cap of $100.69 million, a P/E ratio of -9.00 and a beta of 2.10. The company has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $2.52.

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

Hedge Funds Weigh In On AXT

A number of hedge funds have recently added to or reduced their stakes in the business. Systematic Financial Management LP lifted its position in shares of AXT by 13.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company's stock worth $3,575,000 after buying an additional 169,406 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in AXT by 10.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company's stock worth $1,468,000 after acquiring an additional 54,891 shares during the last quarter. Geode Capital Management LLC boosted its stake in AXT by 1.7% in the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company's stock valued at $1,123,000 after acquiring an additional 7,577 shares during the period. Renaissance Technologies LLC boosted its stake in AXT by 1,142.1% in the second quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company's stock valued at $1,276,000 after acquiring an additional 347,200 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of AXT by 25.1% during the third quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company's stock valued at $730,000 after purchasing an additional 60,623 shares during the last quarter. Institutional investors and hedge funds own 49.52% of the company's stock.

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.