AXT’s (AXTI) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of AXT (NASDAQ:AXTI) in a report issued on Friday,RTT News reports. They currently have a $5.50 price objective on the semiconductor company’s stock.

Several other brokerages also recently commented on AXTI. Northland Securities reduced their target price on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of AXT in a report on Friday, November 1st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AXT currently has an average rating of “Moderate Buy” and a consensus target price of $5.20.

AXT Price Performance

NASDAQ AXTI opened at $2.10 on Friday. AXT has a fifty-two week low of $1.73 and a fifty-two week high of $5.64. The stock has a market capitalization of $93.98 million, a PE ratio of -8.40 and a beta of 2.08. The business has a fifty day moving average price of $2.19 and a two-hundred day moving average price of $2.35.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AXTI. White Pine Capital LLC raised its position in AXT by 0.8% in the 4th quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company’s stock worth $1,451,000 after purchasing an additional 5,246 shares during the period. Empowered Funds LLC grew its stake in shares of AXT by 5.2% during the fourth quarter. Empowered Funds LLC now owns 145,664 shares of the semiconductor company’s stock valued at $316,000 after buying an additional 7,165 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AXT by 1.7% in the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock worth $1,123,000 after buying an additional 7,577 shares during the period. Canandaigua National Bank & Trust Co. bought a new stake in shares of AXT in the 4th quarter valued at about $28,000. Finally, Assenagon Asset Management S.A. boosted 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 valued at $154,000 after acquiring an additional 13,376 shares during the period. Institutional investors own 49.52% of the company’s stock.

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.