AXT, Inc. (NASDAQ:AXTI) Receives $5.38 Consensus Target Price from Analysts

AXT, Inc. (NASDAQ:AXTI) has been given a consensus rating of “Buy” by the five ratings firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $5.30.

Several research firms recently commented on AXTI. Northland Securities reduced their target price 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. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of AXT in a report on Monday, July 29th. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Finally, Needham & Company LLC reaffirmed 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

A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC increased its stake in shares of AXT by 833.3% during the second quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock valued at $919,000 after buying an additional 243,226 shares during the period. Renaissance Technologies LLC raised its holdings in AXT by 1,142.1% in the 2nd quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock worth $1,276,000 after purchasing an additional 347,200 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of AXT in the 2nd quarter worth about $468,000. Bailard Inc. bought a new stake in shares of AXT during the 2nd quarter valued at about $122,000. Finally, Quadrature Capital Ltd increased its position in shares of AXT by 208.6% during the first quarter. Quadrature Capital Ltd now owns 115,388 shares of the semiconductor company’s stock valued at $530,000 after buying an additional 78,001 shares during the period. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Stock Performance

AXTI opened at $2.11 on Friday. The stock has a market capitalization of $93.85 million, a P/E ratio of -8.44 and a beta of 2.22. The stock has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.99. AXT has a 12-month low of $1.93 and a 12-month high of $5.64.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The firm had revenue of $23.65 million during the quarter, compared to analysts’ expectations of $25.98 million. During the same period in the prior year, the company earned ($0.14) EPS. On average, equities research analysts predict that AXT will post -0.19 EPS for the current year.

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.