AXT (NASDAQ:AXTI) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of AXT (NASDAQ:AXTI) from a hold rating to a sell rating in a report released on Thursday.

Other analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $5.00 price target on shares of AXT in a research report on Friday, May 3rd. Wedbush reaffirmed an outperform rating and set a $6.00 price target on shares of AXT in a research report on Friday, May 3rd. B. Riley upped their price target on shares of AXT from $3.80 to $5.50 and gave the stock a buy rating in a research report on Friday, April 5th. Finally, Craig Hallum upped their price target on shares of AXT from $3.75 to $5.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AXT currently has an average rating of Moderate Buy and an average price target of $5.38.

AXT Stock Down 0.5 %

Shares of AXTI stock opened at $3.63 on Thursday. The company’s fifty day simple moving average is $3.40 and its 200-day simple moving average is $3.24. The firm has a market cap of $161.17 million, a PE ratio of -9.07 and a beta of 2.26. AXT has a 12 month low of $1.89 and a 12 month high of $5.64.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. AXT had a negative net margin of 21.01% and a negative return on equity of 7.40%. The business had revenue of $22.69 million for the quarter, compared to analyst estimates of $21.00 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. On average, equities analysts predict that AXT will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AXT

Several institutional investors and hedge funds have recently modified their holdings of AXTI. PNC Financial Services Group Inc. increased its holdings in shares of AXT by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 2,500 shares during the last quarter. Byrne Asset Management LLC acquired a new position in shares of AXT in the first quarter valued at $28,000. Brookstone Capital Management acquired a new position in shares of AXT in the fourth quarter valued at $37,000. Brown Advisory Inc. acquired a new position in shares of AXT in the fourth quarter valued at $50,000. Finally, SG Americas Securities LLC acquired a new position in shares of AXT in the first quarter valued at $52,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Company Profile

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.