AXT, Inc. (NASDAQ:AXTI) Receives $5.38 Consensus PT from Analysts

Shares of AXT, Inc. (NASDAQ:AXTI) have earned an average recommendation of “Buy” from the five analysts that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $5.30.

Several research firms have weighed in on AXTI. StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of AXT in a research note on Monday, July 29th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Friday. Finally, Northland Securities dropped their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday.

Hedge Funds Weigh In On AXT

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in shares of AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 2,500 shares during the period. Byrne Asset Management LLC lifted its holdings in shares of AXT by 125.0% during the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 7,500 shares during the period. SG Americas Securities LLC acquired a new stake in shares of AXT during the first quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of AXT during the first quarter worth $77,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of AXT during the first quarter worth $93,000. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

AXT Stock Down 18.2 %

AXT stock opened at $2.11 on Friday. AXT has a 52-week low of $1.89 and a 52-week high of $5.64. The company has a market cap of $93.85 million, a price-to-earnings ratio of -8.44 and a beta of 2.22. The firm’s fifty day moving average is $2.46 and its 200 day moving average is $3.01.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The company had revenue of $23.65 million during the quarter, compared to analysts’ expectations of $25.98 million. During the same period in the prior year, the business earned ($0.14) EPS. On average, equities research analysts anticipate that AXT will post -0.19 earnings per share for the current fiscal year.

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.