AXT, Inc. (NASDAQ:AXTI) Receives Average Recommendation of "Buy" from Analysts

AXT, Inc. (NASDAQ:AXTI - Get Free Report) has been assigned a consensus rating of "Buy" from the four analysts that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $5.38.

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of AXT from a "hold" rating to a "sell" rating in a research report on Monday, September 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 price objective on shares of AXT in a research note on Friday. Wedbush reiterated an "outperform" rating and issued a $6.00 price objective on shares of AXT in a report on Monday, July 29th. Finally, Northland Securities reduced their price target on AXT from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its position in AXT by 26.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company's stock worth $154,000 after buying an additional 13,376 shares in the last quarter. Creative Planning acquired a new position in shares of AXT during the third quarter worth approximately $127,000. Cubist Systematic Strategies LLC bought a new stake in shares of AXT during the second quarter valued at approximately $468,000. Squarepoint Ops LLC increased its holdings in shares of AXT by 206.8% in the second quarter. Squarepoint Ops LLC now owns 166,072 shares of the semiconductor company's stock valued at $561,000 after purchasing an additional 111,934 shares in the last quarter. Finally, XTX Topco Ltd raised its position in AXT by 135.1% in the 2nd quarter. XTX Topco Ltd now owns 173,726 shares of the semiconductor company's stock worth $587,000 after purchasing an additional 99,840 shares during the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

AXT Trading Down 18.2 %

NASDAQ AXTI traded down $0.47 during trading on Friday, reaching $2.11. 1,404,038 shares of the company's stock were exchanged, compared to its average volume of 1,042,216. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64. The company's fifty day simple moving average is $2.47 and its 200-day simple moving average is $3.02. The firm has a market capitalization of $93.86 million, a PE ratio of -6.59 and a beta of 2.23.

AXT (NASDAQ:AXTI - Get Free Report) last released its earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. AXT had a negative net margin of 14.75% and a negative return on equity of 5.87%. The company had revenue of $27.92 million during the quarter, compared to the consensus estimate of $26.50 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. Equities analysts forecast that AXT will post -0.19 EPS for the current fiscal year.

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.

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