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

Shares of AXT, Inc. (NASDAQ:AXTI) have been assigned an average rating of “Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.30.

AXTI has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of AXT in a research report on Friday, November 1st. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Finally, Northland Securities decreased their price objective on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

AXT Stock Performance

Shares of AXT stock opened at $2.04 on Wednesday. The company’s 50 day moving average price is $2.12 and its 200-day moving average price is $2.52. AXT has a 52-week low of $1.73 and a 52-week high of $5.64. The stock has a market capitalization of $91.29 million, a price-to-earnings ratio of -8.16 and a beta of 2.10.

AXT (NASDAQ:AXTI) last posted 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 business had revenue of $23.65 million during the quarter, compared to the consensus estimate of $25.98 million. During the same period in the previous year, the business earned ($0.14) earnings per share. As a group, equities research analysts forecast that AXT will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AXT

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of 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 buying an additional 347,200 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of AXT by 833.3% during the 2nd quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock valued at $919,000 after purchasing an additional 243,226 shares during the last quarter. Systematic Financial Management LP increased its position in shares of AXT by 13.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after purchasing an additional 169,406 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of AXT in the 2nd quarter worth approximately $468,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of AXT by 206.8% in the second quarter. Squarepoint Ops LLC now owns 166,072 shares of the semiconductor company’s stock worth $561,000 after buying an additional 111,934 shares during the last quarter. Institutional investors own 49.52% of the company’s stock.

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.