AXT, Inc. (NASDAQ:AXTI) Receives $5.10 Average PT from Brokerages

AXT, Inc. (NASDAQ:AXTI) has earned an average rating of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $5.10.

AXTI has been the topic of a number of recent analyst reports. B. Riley reiterated a “buy” rating and issued a $6.00 price objective (up previously from $5.50) on shares of AXT in a research report on Friday, February 21st. Wedbush reiterated an “outperform” rating and issued a $4.50 price objective (down previously from $5.50) on shares of AXT in a research report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of AXT in a research report on Friday, February 21st.

Institutional Investors Weigh In On AXT

A number of large investors have recently added to or reduced their stakes in the company. Formidable Asset Management LLC raised its position in AXT by 40.7% during the fourth quarter. Formidable Asset Management LLC now owns 43,500 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 12,575 shares in the last quarter. Systematic Financial Management LP raised its position in AXT by 5.0% during the fourth quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company’s stock valued at $3,366,000 after purchasing an additional 74,211 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in AXT during the fourth quarter valued at about $628,000. Man Group plc bought a new position in shares of AXT during the fourth quarter valued at about $67,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of AXT by 5.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 302,936 shares of the semiconductor company’s stock valued at $657,000 after buying an additional 16,842 shares during the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Price Performance

NASDAQ:AXTI opened at $1.62 on Thursday. AXT has a 1 year low of $1.29 and a 1 year high of $5.64. The company has a market cap of $72.50 million, a P/E ratio of -5.79 and a beta of 2.17. The stock’s fifty day moving average price is $2.03 and its two-hundred day moving average price is $2.22.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. The business had revenue of $25.11 million during the quarter, compared to analysts’ expectations of $23.94 million. On average, analysts expect that AXT will post -0.12 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.