Analysts Set AXT, Inc. (NASDAQ:AXTI) Price Target at $5.38

Shares of AXT, Inc. (NASDAQ:AXTI) have been assigned an average rating of “Buy” from the four analysts that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $5.38.

AXTI has been the topic of several analyst reports. Craig Hallum lifted their target price on shares of AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of AXT in a research note on Friday, May 3rd. B. Riley upped their price target on AXT from $3.80 to $5.50 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of AXT in a research report on Friday, May 3rd.

AXT Price Performance

NASDAQ:AXTI opened at $3.25 on Monday. AXT has a 1-year low of $1.89 and a 1-year high of $5.64. The business has a 50 day moving average of $3.55 and a 200 day moving average of $3.50. The company has a market capitalization of $144.30 million, a price-to-earnings ratio of -8.13 and a beta of 2.29.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $22.69 million during the quarter, compared to analyst estimates of $21.00 million. AXT had a negative net margin of 21.01% and a negative return on equity of 7.40%. During the same period in the previous year, the business posted ($0.08) EPS. As a group, sell-side analysts anticipate that AXT will post -0.2 EPS for the current year.

Institutional Trading of AXT

Several institutional investors and hedge funds have recently bought and sold shares of AXTI. Brookstone Capital Management bought a new stake in AXT during the 4th quarter valued at approximately $37,000. Assenagon Asset Management S.A. lifted its stake in shares of AXT by 866.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,570 shares of the semiconductor company’s stock valued at $616,000 after purchasing an additional 230,013 shares during the period. White Pine Capital LLC boosted its position in shares of AXT by 35.9% during the fourth quarter. White Pine Capital LLC now owns 612,630 shares of the semiconductor company’s stock valued at $1,470,000 after purchasing an additional 161,893 shares in the last quarter. Brown Advisory Inc. purchased a new stake in AXT in the fourth quarter worth $50,000. Finally, Franklin Resources Inc. raised its holdings in AXT by 47.0% in the fourth quarter. Franklin Resources Inc. now owns 465,948 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 149,048 shares in the last quarter. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

About AXT

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.