AXT (NASDAQ:AXTI) Earns “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of AXT (NASDAQ:AXTI) in a research report report published on Friday,RTT News reports. The brokerage currently has a $4.50 target price on the semiconductor company’s stock, down from their prior target price of $5.50.

A number of other equities analysts also recently commented on AXTI. B. Riley reissued a “buy” rating and set a $6.00 price objective (up from $5.50) on shares of AXT in a research report on Friday. Northland Securities lowered their price target on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.10.

AXT Stock Down 31.0 %

NASDAQ:AXTI opened at $1.58 on Friday. AXT has a 52 week low of $1.56 and a 52 week high of $5.64. The company has a fifty day simple moving average of $2.17 and a two-hundred day simple moving average of $2.29. The company has a market cap of $70.71 million, a price-to-earnings ratio of -6.32 and a beta of 2.08.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. The company had revenue of $25.11 million during the quarter, compared to analysts’ expectations of $23.94 million. On average, analysts expect that AXT will post -0.22 EPS for the current year.

Hedge Funds Weigh In On AXT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXTI. Bleakley Financial Group LLC purchased a new stake in shares of AXT during the 4th quarter worth approximately $29,000. Geode Capital Management LLC raised its stake in AXT by 1.7% during 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 in the last quarter. Empowered Funds LLC raised its stake in AXT by 5.2% during the 4th quarter. Empowered Funds LLC now owns 145,664 shares of the semiconductor company’s stock worth $316,000 after acquiring an additional 7,165 shares in the last quarter. Barclays PLC purchased a new stake in AXT in the third quarter valued at $85,000. Finally, Creative Planning acquired a new position in AXT in the third quarter valued at $127,000. 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.