AXT’s (AXTI) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of AXT (NASDAQ:AXTI) in a research report report published on Friday, Benzinga reports. The firm currently has a $6.00 target price on the semiconductor company’s stock.

Several other equities analysts have also commented on the company. Craig Hallum upped their target price on AXT from $3.75 to $5.00 and gave the company a buy rating in a research note on Tuesday, April 9th. B. Riley raised their target price on shares of AXT from $3.80 to $5.50 and gave the stock a buy rating in a research report on Friday, April 5th. StockNews.com downgraded shares of AXT from a hold rating to a sell rating in a report on Saturday, March 2nd. Finally, Needham & Company LLC reiterated a buy rating and issued a $5.00 price target on shares of AXT in a report on Friday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, AXT currently has an average rating of Moderate Buy and a consensus target price of $5.38.

AXT Stock Up 20.8 %

Shares of AXTI traded up $0.63 during trading hours on Friday, reaching $3.66. 13,601,544 shares of the company traded hands, compared to its average volume of 908,661. The stock has a fifty day simple moving average of $4.03 and a 200 day simple moving average of $2.93. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. AXT had a negative net margin of 21.01% and a negative return on equity of 7.36%. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, equities research analysts anticipate that AXT will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On AXT

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of AXT by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 2,500 shares during the period. Byrne Asset Management LLC acquired a new stake in shares of AXT during the first quarter valued at about $28,000. Brookstone Capital Management acquired a new position in shares of AXT in the fourth quarter worth about $37,000. James Investment Research Inc. purchased a new position in AXT in the third quarter valued at about $38,000. Finally, Brown Advisory Inc. acquired a new stake in AXT during the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds 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.