Brokerages Set AXT, Inc. (NASDAQ:AXTI) Target Price at $5.20

AXT, Inc. (NASDAQ:AXTI) has earned an average recommendation of “Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $5.20.

Several research firms have issued reports on AXTI. Wedbush reissued an “outperform” rating and issued a $5.50 price objective on shares of AXT in a research report on Friday, February 7th. Northland Securities lowered their price target on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of AXT in a research note on Friday, November 1st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AXTI. Canandaigua National Bank & Trust Co. purchased a new position in AXT during the fourth quarter valued at approximately $28,000. Bleakley Financial Group LLC purchased a new position in AXT in the fourth quarter valued at $29,000. Atlas Brown Inc. purchased a new stake in shares of AXT during the 4th quarter worth about $42,000. Virtu Financial LLC purchased a new position in shares of AXT in the 4th quarter valued at about $54,000. Finally, Barclays PLC acquired a new position in AXT in the 3rd quarter worth about $85,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Price Performance

Shares of NASDAQ:AXTI opened at $1.95 on Friday. The business has a 50 day simple moving average of $2.19 and a two-hundred day simple moving average of $2.34. AXT has a 1 year low of $1.73 and a 1 year high of $5.64. The firm has a market capitalization of $87.26 million, a PE ratio of -7.80 and a beta of 2.08.

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.