AXT (NASDAQ:AXTI) Upgraded at StockNews.com

AXT (NASDAQ:AXTI - Get Free Report) was upgraded by investment analysts at StockNews.com to a "sell" rating in a report issued on Thursday.

Other research analysts have also issued reports about the company. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price objective on shares of AXT in a research report on Friday, February 21st. B. Riley reaffirmed a "buy" rating and issued a $6.00 price target (up previously from $5.50) on shares of AXT in a research note on Friday, February 21st. Finally, Wedbush reissued an "outperform" rating and set a $4.50 price objective (down from $5.50) on shares of AXT in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $5.10.

AXT Trading Down 9.1 %

NASDAQ AXTI traded down $0.14 on Thursday, reaching $1.35. 321,153 shares of the company were exchanged, compared to its average volume of 534,189. The business's fifty day moving average price is $1.87 and its 200 day moving average price is $2.12. The stock has a market capitalization of $61.33 million, a P/E ratio of -4.78 and a beta of 2.17. AXT has a fifty-two week low of $1.29 and a fifty-two week high of $4.99.

Remove Ads

AXT (NASDAQ:AXTI - Get Free Report) last announced its quarterly 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). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. The firm had revenue of $25.11 million for the quarter, compared to analyst estimates of $23.94 million. Equities research analysts forecast that AXT will post -0.12 earnings per share for the current year.

Institutional Trading of AXT

Institutional investors and hedge funds have recently bought and sold shares of the business. Systematic Financial Management LP increased its stake in AXT by 13.0% during 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 period. Barclays PLC purchased a new stake in shares of AXT during the third quarter worth $85,000. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Canandaigua National Bank & Trust Co. purchased a new position in AXT in the fourth quarter valued at $28,000. Finally, Atlas Brown Inc. acquired a new position in AXT during the 4th quarter worth $42,000. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

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.