AXT, Inc. (NASDAQ:AXTI) Given Average Recommendation of “Buy” by Brokerages

AXT, Inc. (NASDAQ:AXTI) has received an average recommendation of “Buy” from the four analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.30.

A number of analysts have recently weighed in on AXTI shares. StockNews.com cut AXT from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. B. Riley lifted their price objective on shares of AXT from $3.80 to $5.50 and gave the company a “buy” rating in a research report on Friday, April 5th. Craig Hallum raised their price target on shares of AXT from $3.75 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Wedbush restated an “outperform” rating and issued a $6.00 target price on shares of AXT in a research report on Monday, April 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of AXT in a research report on Tuesday, April 9th.

Hedge Funds Weigh In On AXT

Hedge funds have recently made changes to their positions in the business. First Wilshire Securities Management Inc. boosted its position in shares of AXT by 30.8% in the fourth quarter. First Wilshire Securities Management Inc. now owns 3,306,715 shares of the semiconductor company’s stock worth $7,936,000 after buying an additional 779,548 shares during the period. Vanguard Group Inc. grew its position in AXT by 14.3% during the fourth quarter. Vanguard Group Inc. now owns 2,275,457 shares of the semiconductor company’s stock valued at $5,461,000 after purchasing an additional 285,113 shares in the last quarter. Needham Investment Management LLC lifted its position in AXT by 18.2% in the 4th quarter. Needham Investment Management LLC now owns 1,460,450 shares of the semiconductor company’s stock worth $6,397,000 after buying an additional 225,000 shares in the last quarter. Royce & Associates LP boosted its stake in shares of AXT by 1.9% during the 1st quarter. Royce & Associates LP now owns 1,244,200 shares of the semiconductor company’s stock valued at $4,952,000 after buying an additional 23,200 shares during the period. Finally, Pacific Ridge Capital Partners LLC grew its holdings in shares of AXT by 1.8% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 1,232,069 shares of the semiconductor company’s stock valued at $2,957,000 after acquiring an additional 21,973 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company’s stock.

AXT Stock Down 4.3 %

Shares of AXT stock opened at $2.91 on Friday. The business has a 50-day moving average price of $3.91 and a 200 day moving average price of $2.89. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64. The firm has a market cap of $128.77 million, a P/E ratio of -6.77 and a beta of 2.24.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, February 22nd. The semiconductor company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.05. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. The firm had revenue of $20.43 million during the quarter, compared to analyst estimates of $17.62 million. As a group, equities research analysts anticipate that AXT will post -0.1 earnings per share for the current 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.