AXT (NASDAQ:AXTI) Given New $5.00 Price Target at Northland Securities

AXT (NASDAQ:AXTI - Get Free Report) had its price target reduced by stock analysts at Northland Securities from $6.00 to $5.00 in a report released on Friday, Benzinga reports. The firm presently has an "outperform" rating on the semiconductor company's stock. Northland Securities' target price points to a potential upside of 136.97% from the stock's current price.

AXTI has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 price objective on shares of AXT in a research note on Friday. StockNews.com cut AXT from a "hold" rating to a "sell" rating in a research report on Monday, September 30th. Finally, Wedbush reissued an "outperform" rating and issued a $6.00 price objective on shares of AXT in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $5.30.

AXT Trading Down 18.1 %

Shares of AXT stock traded down $0.47 on Friday, reaching $2.11. 1,409,510 shares of the company were exchanged, compared to its average volume of 1,042,242. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64. The firm has a market capitalization of $93.86 million, a price-to-earnings ratio of -6.59 and a beta of 2.23. The stock has a fifty day moving average price of $2.47 and a 200-day moving average price of $3.02.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AXTI. PNC Financial Services Group Inc. grew its stake in shares of AXT by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company's stock valued at $27,000 after buying an additional 2,500 shares in the last quarter. Byrne Asset Management LLC grew its position in AXT by 125.0% in the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 7,500 shares in the last quarter. Keystone Wealth Services LLC increased its stake in shares of AXT by 4.3% during the 2nd quarter. Keystone Wealth Services LLC now owns 202,223 shares of the semiconductor company's stock worth $684,000 after purchasing an additional 8,333 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of AXT during the 1st quarter valued at $52,000. Finally, Empowered Funds LLC lifted its stake in shares of AXT by 8.1% in the 1st quarter. Empowered Funds LLC now owns 158,651 shares of the semiconductor company's stock valued at $728,000 after purchasing an additional 11,900 shares during the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

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.