AXT (NASDAQ:AXTI) Upgraded at StockNews.com

StockNews.com upgraded shares of AXT (NASDAQ:AXTI) to a sell rating in a research note released on Thursday morning.

Several other research analysts also recently weighed in on AXTI. B. Riley reaffirmed a “buy” rating and set a $6.00 target price (up from $5.50) on shares of AXT in a research note on Friday, February 21st. Wedbush restated an “outperform” rating and set a $4.50 price objective (down from $5.50) on shares of AXT in a research report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of AXT in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.10.

AXT Stock Down 4.5 %

Shares of NASDAQ AXTI opened at $1.48 on Thursday. AXT has a 52 week low of $1.29 and a 52 week high of $4.99. The business’s 50 day moving average price is $1.87 and its 200 day moving average price is $2.12. The firm has a market cap of $67.49 million, a P/E ratio of -5.29 and a beta of 2.17.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The company had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. As a group, research analysts expect that AXT will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AXTI. Formidable Asset Management LLC increased its holdings in shares of AXT by 40.7% in the fourth quarter. Formidable Asset Management LLC now owns 43,500 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 12,575 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of AXT by 5.0% in the 4th quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company’s stock worth $3,366,000 after acquiring an additional 74,211 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of AXT in the 4th quarter worth $628,000. Man Group plc purchased a new position in shares of AXT during the 4th quarter worth $67,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of AXT by 5.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 302,936 shares of the semiconductor company’s stock valued at $657,000 after acquiring an additional 16,842 shares during the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.