Wedbush reiterated their outperform rating on shares of AXT (NASDAQ:AXTI - Free Report) in a report published on Friday morning,RTT News reports. The brokerage currently has a $5.50 target price on the semiconductor company's stock.
AXTI has been the topic of several other reports. Northland Securities decreased their price target on shares of AXT from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Needham & Company LLC reiterated a "buy" rating and set a $5.00 target price on shares of AXT in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, AXT currently has an average rating of "Moderate Buy" and a consensus price target of $5.20.
View Our Latest Stock Report on AXT
AXT Price Performance
AXT stock traded down $0.04 during mid-day trading on Friday, reaching $1.98. 245,930 shares of the stock traded hands, compared to its average volume of 255,161. AXT has a 12-month low of $1.73 and a 12-month high of $5.64. The business's 50-day moving average is $2.19 and its 200-day moving average is $2.34. The stock has a market capitalization of $88.38 million, a PE ratio of -7.90 and a beta of 2.08.
Hedge Funds Weigh In On AXT
Hedge funds have recently made changes to their positions in the business. Canandaigua National Bank & Trust Co. purchased a new position in AXT in the 4th quarter worth approximately $28,000. Bleakley Financial Group LLC purchased a new position in shares of AXT in the fourth quarter worth $29,000. Atlas Brown Inc. bought a new position in shares of AXT during the fourth quarter worth $42,000. Virtu Financial LLC purchased a new position in shares of AXT during the fourth quarter valued at about $54,000. Finally, Barclays PLC bought a new stake in shares of AXT in the third quarter worth about $85,000. Institutional investors own 49.52% of the company's stock.
AXT Company Profile
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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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