AXT, Inc. (NASDAQ:AXTI) Given Consensus Recommendation of “Buy” by Brokerages

AXT, Inc. (NASDAQ:AXTI) has earned an average recommendation of “Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $5.30.

Several research firms have weighed in on AXTI. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Northland Securities reduced their price objective on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of AXT in a research note on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of AXT in a report on Monday, July 29th.

AXT Price Performance

Shares of NASDAQ AXTI opened at $2.06 on Tuesday. The company has a market capitalization of $92.19 million, a P/E ratio of -8.24 and a beta of 2.22. The business’s 50-day moving average price is $2.30 and its two-hundred day moving average price is $2.88. AXT has a one year low of $1.73 and a one year high of $5.64.

AXT (NASDAQ:AXTI) last posted its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $23.65 million during the quarter, compared to the consensus estimate of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same period in the prior year, the firm earned ($0.14) earnings per share. On average, equities analysts anticipate that AXT will post -0.22 EPS for the current year.

Institutional Investors Weigh In On AXT

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in AXT in the 1st quarter valued at approximately $52,000. State Board of Administration of Florida Retirement System acquired a new stake in AXT during the first quarter worth $93,000. Vanguard Group Inc. increased its holdings in AXT by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock valued at $10,540,000 after buying an additional 20,747 shares during the period. Quadrature Capital Ltd raised its stake in shares of AXT by 208.6% in the 1st quarter. Quadrature Capital Ltd now owns 115,388 shares of the semiconductor company’s stock valued at $530,000 after buying an additional 78,001 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in AXT by 9.2% in the 1st quarter. Kennedy Capital Management LLC now owns 605,642 shares of the semiconductor company’s stock valued at $2,780,000 after buying an additional 50,975 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company’s stock.

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.