AXT Inc. (NASDAQ:AXTI) has been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.81.
AXTI has been the subject of several recent research reports. B. Riley reaffirmed a “buy” rating and set a $4.80 price target on shares of AXT in a report on Tuesday, August 2nd. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Tuesday, July 12th. Needham & Company LLC upgraded AXT from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Thursday, July 28th. Finally, Northland Securities increased their price objective on AXT from $4.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday.
Shares of AXT (NASDAQ:AXTI) traded up 8.29% during midday trading on Monday, reaching $5.62. 775,436 shares of the company traded hands. The stock’s market capitalization is $180.06 million. AXT has a 1-year low of $1.92 and a 1-year high of $5.63. The stock’s 50-day moving average is $4.43 and its 200-day moving average is $3.47.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business earned $20.50 million during the quarter, compared to the consensus estimate of $19.97 million. AXT had a negative return on equity of 0.01% and a negative net margin of 0.01%. The firm’s revenue was down 2.4% compared to the same quarter last year. Equities analysts predict that AXT will post $0.13 EPS for the current fiscal year.
In other news, VP Robert G. Ochrym sold 26,577 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $4.39, for a total value of $116,673.03. Following the completion of the transaction, the vice president now owns 55,577 shares in the company, valued at $243,983.03. The sale was disclosed in a document filed with the SEC, which is available at this link. 7.29% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC bought a new stake in AXT during the second quarter worth approximately $101,000. Acadian Asset Management LLC bought a new stake in AXT during the second quarter worth approximately $158,000. Bank of New York Mellon Corp raised its stake in AXT by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 65,472 shares of the company’s stock worth $209,000 after buying an additional 805 shares during the last quarter. Coe Capital Management LLC bought a new stake in AXT during the second quarter worth approximately $391,000. Finally, ClariVest Asset Management LLC bought a new stake in AXT during the second quarter worth approximately $822,000. 42.35% of the stock is currently owned by institutional investors and hedge funds.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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