Analysts Set AXT, Inc. (NASDAQ:AXTI) PT at $5.30

AXT, Inc. (NASDAQ:AXTI) has received an average rating of “Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.30.

AXTI has been the subject of several analyst reports. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Northland Securities cut their price objective on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of AXT in a research note on Friday, November 1st.

Hedge Funds Weigh In On AXT

A number of hedge funds have recently made changes to their positions in AXTI. Canandaigua National Bank & Trust Co. acquired a new stake in AXT in the 4th quarter valued at $28,000. Atlas Brown Inc. acquired a new stake in shares of AXT in the fourth quarter valued at about $42,000. Barclays PLC purchased a new stake in shares of AXT during the 3rd quarter valued at about $85,000. Creative Planning acquired a new position in AXT during the 3rd quarter worth approximately $127,000. Finally, Assenagon Asset Management S.A. boosted its holdings in AXT by 26.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 13,376 shares during the period. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Price Performance

Shares of NASDAQ AXTI opened at $2.44 on Wednesday. The company has a 50-day simple moving average of $2.14 and a 200-day simple moving average of $2.48. The company has a market cap of $109.19 million, a PE ratio of -9.76 and a beta of 2.10. AXT has a 12 month low of $1.73 and a 12 month high of $5.64.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $23.65 million for the quarter, compared to analyst estimates of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same quarter last year, the business posted ($0.14) EPS. On average, analysts anticipate that AXT will post -0.22 EPS for the current year.

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.