AXT, Inc. (NASDAQ:AXTI) Given Average Rating of “Buy” by Analysts

Shares of AXT, Inc. (NASDAQ:AXTI) have received an average recommendation of “Buy” from the five analysts that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.10.

A number of equities analysts recently commented on the stock. B. Riley reissued a “buy” rating and issued a $6.00 price objective (up previously from $5.50) on shares of AXT in a research note on Friday, February 21st. Wedbush reissued an “outperform” rating and issued a $4.50 price objective (down previously from $5.50) on shares of AXT in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of AXT in a research note on Friday, February 21st.

AXT Stock Performance

AXT stock opened at $1.56 on Thursday. The company has a market capitalization of $69.81 million, a PE ratio of -5.57 and a beta of 2.08. AXT has a fifty-two week low of $1.29 and a fifty-two week high of $5.64. The company has a 50 day moving average price of $2.07 and a 200-day moving average price of $2.24.

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

Hedge Funds Weigh In On AXT

Several institutional investors and hedge funds have recently bought and sold shares of AXTI. Creative Planning purchased a new position in AXT in the third quarter worth $127,000. GSA Capital Partners LLP grew its holdings in shares of AXT by 25.1% during the third quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock valued at $730,000 after buying an additional 60,623 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of AXT by 10.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock valued at $1,468,000 after buying an additional 54,891 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of AXT by 13.0% during the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after buying an additional 169,406 shares during the last quarter. Finally, Barclays PLC purchased a new stake in shares of AXT during the third quarter valued at $85,000. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.