Wedbush Reaffirms Outperform Rating for AXT (NASDAQ:AXTI)

AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a research report issued to clients and investors on Friday,RTT News reports. They presently have a $4.50 price target on the semiconductor company's stock, down from their previous price target of $5.50. Wedbush's price target suggests a potential upside of 243.51% from the company's previous close.

Several other research analysts also recently commented on the stock. Northland Securities dropped their price objective on shares of 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 reissued a "buy" rating and set a $5.00 price target on shares of AXT in a research note on Friday. Finally, B. Riley restated a "buy" rating and set a $6.00 price target (up previously from $5.50) on shares of AXT in a report on Friday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.10.

AXT Trading Down 2.2 %

AXTI traded down $0.03 on Friday, hitting $1.31. 1,229,473 shares of the company's stock traded hands, compared to its average volume of 635,349. The company's 50 day simple moving average is $2.16 and its 200-day simple moving average is $2.28. AXT has a one year low of $1.30 and a one year high of $5.64. The firm has a market cap of $58.62 million, a price-to-earnings ratio of -4.68 and a beta of 2.08.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canandaigua National Bank & Trust Co. purchased a new stake in AXT during the fourth quarter valued at approximately $28,000. Bleakley Financial Group LLC purchased a new stake in AXT during the 4th quarter valued at $29,000. Atlas Brown Inc. bought a new stake in AXT in the fourth quarter worth $42,000. Virtu Financial LLC bought a new stake in AXT in the fourth quarter worth $54,000. Finally, Jane Street Group LLC purchased a new position in AXT during the fourth quarter worth $60,000. Hedge funds and other institutional investors 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.