AXT (NASDAQ:AXTI) Earns Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of AXT (NASDAQ:AXTI) in a research report released on Friday morning,RTT News reports. They currently have a $5.50 price objective on the semiconductor company’s stock.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday, November 1st. Northland Securities reduced their target price on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.20.

AXT Trading Down 3.7 %

AXTI opened at $2.10 on Friday. The company has a market cap of $93.98 million, a price-to-earnings ratio of -8.40 and a beta of 2.08. The stock has a fifty day simple moving average of $2.19 and a two-hundred day simple moving average of $2.35. AXT has a 12-month low of $1.73 and a 12-month high of $5.64.

Institutional Trading of AXT

Several large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in AXT during the second quarter valued at about $468,000. Creative Planning bought a new position in shares of AXT during the 3rd quarter valued at approximately $127,000. Assenagon Asset Management S.A. increased its holdings in AXT by 26.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 13,376 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in 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 purchasing an additional 60,623 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of AXT by 10.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock worth $1,468,000 after purchasing an additional 54,891 shares during the period. Institutional investors own 49.52% of the company’s stock.

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.