Analysts Set AXT, Inc. (NASDAQ:AXTI) PT at $5.30

Shares of AXT, Inc. (NASDAQ:AXTI) have earned an average recommendation of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $5.30.

A number of research firms have recently issued reports on AXTI. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of AXT in a research report on Friday, November 1st. Northland Securities decreased their price target on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com lowered shares of AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th.

AXT Stock Performance

AXT stock opened at $2.31 on Friday. The firm’s 50 day moving average price is $2.22 and its two-hundred day moving average price is $2.69. The firm has a market cap of $103.37 million, a price-to-earnings ratio of -9.24 and a beta of 2.15. AXT has a 1 year low of $1.73 and a 1 year high of $5.64.

AXT (NASDAQ:AXTI) last issued 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). The firm had revenue of $23.65 million during the quarter, compared to analysts’ expectations of $25.98 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. During the same quarter last year, the company posted ($0.14) EPS. As a group, equities analysts predict that AXT will post -0.22 EPS for the current fiscal year.

Institutional Trading of AXT

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC bought a new stake in shares of AXT in the 3rd quarter valued at approximately $85,000. Bailard Inc. bought a new position in AXT in the second quarter valued at about $122,000. Creative Planning bought a new position in shares of AXT in the 3rd quarter valued at about $127,000. Assenagon Asset Management S.A. grew its holdings 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 acquiring an additional 13,376 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in AXT in the second quarter valued at about $468,000. 49.52% of the stock is currently 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.