AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "buy" rating reissued by analysts at B. Riley in a note issued to investors on Friday,Benzinga reports. They presently have a $6.00 price target on the semiconductor company's stock, up from their prior price target of $5.50. B. Riley's price target would indicate a potential upside of 358.02% from the stock's previous close.
Several other brokerages have also recently commented on AXTI. Northland Securities dropped 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. Wedbush reissued an "outperform" rating and set a $5.50 target price on shares of AXT in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $5.00 target price on shares of AXT in a report on Friday. One investment 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 presently has an average rating of "Moderate Buy" and an average price target of $5.10.
Check Out Our Latest Stock Analysis on AXTI
AXT Price Performance
Shares of AXT stock traded down $0.03 on Friday, hitting $1.31. The company had a trading volume of 1,229,473 shares, compared to its average volume of 635,329. AXT has a 52 week low of $1.30 and a 52 week high of $5.64. The company has a market cap of $58.62 million, a PE ratio of -4.68 and a beta of 2.08. The business has a 50-day simple moving average of $2.16 and a 200-day simple moving average of $2.28.
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 (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $23.94 million. On average, equities research analysts predict that AXT will post -0.12 earnings per share for the current fiscal year.
Institutional Trading of AXT
Institutional investors have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC increased its position in AXT by 65.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company's stock worth $4,204,000 after purchasing an additional 766,122 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in AXT in the fourth quarter worth approximately $628,000. Systematic Financial Management LP raised its position in AXT by 13.0% during the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company's stock valued at $3,575,000 after acquiring an additional 169,406 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in AXT by 13.1% in the fourth quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company's stock valued at $1,987,000 after acquiring an additional 106,121 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in AXT by 18.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 606,365 shares of the semiconductor company's stock worth $1,316,000 after acquiring an additional 96,195 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company's stock.
About AXT
(
Get Free Report)
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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