AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $5.00 target price on the semiconductor company's stock. Needham & Company LLC's price target points to a potential upside of 281.68% from the company's previous close.
A number of other research firms have also recently issued reports on AXTI. Wedbush reaffirmed an "outperform" rating and issued a $5.50 price target on shares of AXT in a report on Friday, February 7th. Northland Securities reduced their target price on AXT from $6.00 to $5.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, AXT has an average rating of "Moderate Buy" and an average price target of $5.10.
Read Our Latest Research Report on AXTI
AXT Stock Down 2.2 %
Shares of AXT stock traded down $0.03 during trading on Friday, reaching $1.31. The company's stock had a trading volume of 1,229,473 shares, compared to its average volume of 635,329. The company has a 50-day simple moving average of $2.16 and a two-hundred day simple moving average of $2.28. AXT has a 1-year low of $1.30 and a 1-year high of $5.64. The company has a market cap of $58.62 million, a price-to-earnings ratio of -4.68 and a beta of 2.08.
AXT (NASDAQ:AXTI - Get Free Report) last issued 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). The business had revenue of $25.11 million during 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%. As a group, analysts anticipate that AXT will post -0.12 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canandaigua National Bank & Trust Co. acquired a new stake in AXT during the 4th quarter worth about $28,000. Bleakley Financial Group LLC acquired a new stake in AXT during the fourth quarter worth about $29,000. Atlas Brown Inc. purchased a new position in AXT during the fourth quarter valued at approximately $42,000. Virtu Financial LLC acquired a new position in AXT in the fourth quarter valued at approximately $54,000. Finally, Jane Street Group LLC purchased a new stake in AXT in the 4th quarter worth approximately $60,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.
About AXT
(
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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.
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