Brokerages Set AXT, Inc. (NASDAQ:AXTI) Target Price at $5.30

AXT, Inc. (NASDAQ:AXTI) has been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.30.

AXTI has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of AXT in a research report on Friday, November 1st. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Finally, Northland Securities cut their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Hedge Funds Weigh In On AXT

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in shares of AXT by 1,142.1% in the second quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock valued at $1,276,000 after buying an additional 347,200 shares in the last quarter. Acadian Asset Management LLC grew its holdings in AXT by 833.3% during the 2nd quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock worth $919,000 after acquiring an additional 243,226 shares during the last quarter. Systematic Financial Management LP increased its position in AXT by 13.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after acquiring an additional 169,406 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of AXT in the second quarter worth about $468,000. Finally, Squarepoint Ops LLC raised its stake in shares of AXT by 206.8% in the second quarter. Squarepoint Ops LLC now owns 166,072 shares of the semiconductor company’s stock worth $561,000 after acquiring an additional 111,934 shares during the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Price Performance

Shares of AXT stock opened at $2.26 on Wednesday. The company’s fifty day moving average price is $2.12 and its two-hundred day moving average price is $2.51. The firm has a market capitalization of $101.14 million, a PE ratio of -9.04 and a beta of 2.10. AXT has a 52-week low of $1.73 and a 52-week high of $5.64.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $23.65 million during the quarter, compared to analyst estimates of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same period last year, the company earned ($0.14) EPS. Analysts predict that AXT will post -0.22 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.