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

Shares of AXT, Inc. (NASDAQ:AXTI) have been assigned a consensus recommendation of “Buy” from the four analysts that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.30.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in AXT by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 2,500 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of AXT by 14.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,781 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 2,710 shares during the period. Charles Schwab Investment Management Inc. raised its position in AXT by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,834 shares of the semiconductor company’s stock worth $477,000 after purchasing an additional 3,220 shares in the last quarter. Occudo Quantitative Strategies LP lifted its stake in AXT by 20.2% during the second quarter. Occudo Quantitative Strategies LP now owns 21,554 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 3,620 shares during the period. Finally, Rhumbline Advisers boosted its holdings in AXT by 11.5% during the second quarter. Rhumbline Advisers now owns 59,502 shares of the semiconductor company’s stock valued at $349,000 after purchasing an additional 6,147 shares in the last quarter. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Stock Performance

Shares of AXT stock opened at $2.91 on Friday. The firm has a market cap of $128.77 million, a PE ratio of -6.77 and a beta of 2.24. AXT has a 1 year low of $1.89 and a 1 year high of $5.64. The firm’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $2.89.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05. The business had revenue of $20.43 million during the quarter, compared to analyst estimates of $17.62 million. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. On average, equities analysts predict 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.