AXT, Inc. (NASDAQ:AXTI) Receives $5.10 Consensus Target Price from Analysts

Shares of AXT, Inc. (NASDAQ:AXTI) have been assigned an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $5.10.

A number of equities research analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $4.50 target price (down from $5.50) on shares of AXT in a research report on Friday, February 21st. B. Riley reiterated a “buy” rating and issued a $6.00 price objective (up previously from $5.50) on shares of AXT in a report on Friday, February 21st. StockNews.com upgraded AXT to a “sell” rating in a report on Thursday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of AXT in a report on Friday, February 21st.

AXT Trading Down 10.8 %

NASDAQ:AXTI opened at $1.24 on Monday. The stock has a 50 day moving average of $1.79 and a two-hundred day moving average of $2.09. AXT has a 12 month low of $1.18 and a 12 month high of $4.23. The firm has a market cap of $56.54 million, a P/E ratio of -4.43 and a beta of 2.36.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $23.94 million. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. On average, research analysts forecast that AXT will post -0.12 earnings per share for the current year.

Institutional Trading of AXT

Several hedge funds have recently made changes to their positions in the company. Formidable Asset Management LLC lifted its holdings in AXT by 40.7% in the fourth quarter. Formidable Asset Management LLC now owns 43,500 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 12,575 shares during the last quarter. Systematic Financial Management LP raised its position in AXT by 5.0% in the fourth quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company’s stock valued at $3,366,000 after purchasing an additional 74,211 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of AXT in the 4th quarter valued at $628,000. Man Group plc purchased a new position in shares of AXT during the 4th quarter worth $67,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of AXT by 5.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 302,936 shares of the semiconductor company’s stock worth $657,000 after purchasing an additional 16,842 shares during the last quarter. Hedge funds and other 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.