AXT, Inc. (NASDAQ:AXTI) Receives $5.30 Consensus PT from Analysts

AXT, Inc. (NASDAQ:AXTI) has been given an average rating of “Buy” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.30.

Several research firms recently issued reports on AXTI. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Northland Securities decreased their price target on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of AXT in a research note on Friday, November 1st.

AXT Stock Performance

Shares of AXTI opened at $2.28 on Friday. AXT has a 12-month low of $1.73 and a 12-month high of $5.64. The firm has a market capitalization of $102.03 million, a P/E ratio of -9.12 and a beta of 2.15. The firm has a 50-day moving average price of $2.21 and a 200 day moving average price of $2.67.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data 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 net margin of 10.73% and a negative return on equity of 4.58%. The company had revenue of $23.65 million during the quarter, compared to analysts’ expectations of $25.98 million. During the same quarter last year, the firm posted ($0.14) earnings per share. Equities research analysts predict that AXT will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AXT

Several institutional investors have recently bought and sold shares of AXTI. Geode Capital Management LLC lifted its stake in shares of AXT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock worth $1,123,000 after acquiring an additional 7,577 shares during the period. Assenagon Asset Management S.A. lifted its position in AXT by 26.5% in the third quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after purchasing an additional 13,376 shares during the period. ClariVest Asset Management LLC boosted its holdings in AXT by 21.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 195,920 shares of the semiconductor company’s stock valued at $662,000 after purchasing an additional 34,120 shares in the last quarter. Barclays PLC purchased a new stake in AXT in the 3rd quarter valued at approximately $85,000. Finally, Bailard Inc. purchased a new position in shares of AXT during the 2nd quarter worth approximately $122,000. 49.52% of the stock is 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.