AXT, Inc. (NASDAQ:AXTI) Receives Average Rating of “Buy” from Analysts

Shares of AXT, Inc. (NASDAQ:AXTI) have earned an average rating of “Buy” from the four analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $5.30.

Several analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and set a $6.00 price target on shares of AXT in a research note on Monday, April 8th. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Craig Hallum increased their price target on shares of AXT from $3.75 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. B. Riley increased their price target on shares of AXT from $3.80 to $5.50 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of AXT in a research note on Tuesday, April 9th.

AXT Trading Down 5.8 %

NASDAQ AXTI opened at $2.77 on Friday. The firm has a market cap of $122.57 million, a price-to-earnings ratio of -6.44 and a beta of 2.24. The company has a 50 day moving average of $3.92 and a 200-day moving average of $2.89. AXT has a 1-year low of $1.89 and a 1-year high of $5.64.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The company had revenue of $20.43 million during the quarter, compared to analyst estimates of $17.62 million. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. On average, analysts forecast that AXT will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On AXT

A number of hedge funds and other institutional investors have recently bought and sold shares of AXTI. PNC Financial Services Group Inc. boosted its stake in AXT by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 2,500 shares during the last quarter. Point72 Middle East FZE bought a new position in shares of AXT during the second quarter worth $37,000. Brookstone Capital Management bought a new position in shares of AXT during the fourth quarter worth $37,000. Virtu Financial LLC bought a new position in shares of AXT during the fourth quarter worth $37,000. Finally, James Investment Research Inc. bought a new position in shares of AXT during the third quarter worth $38,000. 49.52% of the stock is owned by institutional investors.

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.