BidaskClub Upgrades AXT (AXTI) to Sell

BidaskClub upgraded shares of AXT (NASDAQ:AXTI) from a strong sell rating to a sell rating in a report issued on Tuesday.

AXTI has been the subject of several other research reports. ValuEngine lowered AXT from a hold rating to a sell rating in a research report on Friday, September 7th. B. Riley lifted their price objective on AXT from $9.00 to $10.00 and gave the stock a buy rating in a report on Friday, July 20th. Zacks Investment Research upgraded AXT from a hold rating to a buy rating and set a $9.50 price objective for the company in a report on Tuesday, July 24th. Finally, Dougherty & Co reiterated a buy rating on shares of AXT in a report on Wednesday, August 1st. Three analysts have rated the stock with a sell rating and four have given a buy rating to the stock. AXT presently has an average rating of Hold and an average target price of $10.17.

AXTI opened at $6.30 on Tuesday. The stock has a market capitalization of $261.17 million, a PE ratio of 24.15, a P/E/G ratio of 1.23 and a beta of 1.08. AXT has a 1 year low of $5.80 and a 1 year high of $10.75.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $27.12 million during the quarter, compared to analyst estimates of $26.10 million. AXT had a return on equity of 7.72% and a net margin of 13.51%. AXT’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. As a group, research analysts expect that AXT will post 0.36 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC bought a new stake in AXT in the 2nd quarter worth about $112,000. MetLife Investment Advisors LLC increased its holdings in AXT by 220.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after buying an additional 13,069 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in AXT in the 2nd quarter worth about $141,000. Bank of America Corp DE increased its holdings in AXT by 804.2% in the 2nd quarter. Bank of America Corp DE now owns 31,746 shares of the semiconductor company’s stock worth $223,000 after buying an additional 28,235 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in AXT by 15.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,874 shares of the semiconductor company’s stock worth $606,000 after buying an additional 11,200 shares in the last quarter. Institutional investors own 55.11% of the company’s stock.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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