AXT (NASDAQ:AXTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, December 27th. The brokerage currently has a $9.75 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.94% from the stock’s previous close.
According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “
AXTI has been the topic of several other reports. B. Riley reissued a “hold” rating and set a $8.50 price objective on shares of AXT in a research note on Tuesday, October 24th. BidaskClub lowered AXT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of AXT in a research report on Sunday, September 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $9.90.
Shares of AXT (AXTI) opened at $8.95 on Wednesday. The company has a market capitalization of $348.08, a PE ratio of 37.29, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. AXT has a twelve month low of $5.10 and a twelve month high of $10.75.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. AXT had a return on equity of 5.67% and a net margin of 9.96%. The company had revenue of $28.17 million for the quarter, compared to analysts’ expectations of $27.05 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. equities analysts anticipate that AXT will post 0.25 EPS for the current fiscal year.
In related news, VP Robert G. Ochrym sold 8,125 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $8.80, for a total value of $71,500.00. Following the completion of the sale, the vice president now owns 44,125 shares in the company, valued at $388,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gary L. Fischer sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $9.16, for a total value of $183,200.00. Following the completion of the sale, the chief financial officer now owns 84,515 shares of the company’s stock, valued at approximately $774,157.40. The disclosure for this sale can be found here. Insiders sold 133,375 shares of company stock valued at $1,216,235 in the last quarter. 6.90% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in AXT by 7.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,082,666 shares of the semiconductor company’s stock worth $28,206,000 after buying an additional 205,384 shares during the period. Vanguard Group Inc. lifted its holdings in AXT by 11.8% during the second quarter. Vanguard Group Inc. now owns 1,629,223 shares of the semiconductor company’s stock worth $10,346,000 after buying an additional 172,194 shares during the period. Hood River Capital Management LLC lifted its holdings in AXT by 28.1% during the third quarter. Hood River Capital Management LLC now owns 1,292,928 shares of the semiconductor company’s stock worth $11,830,000 after buying an additional 283,909 shares during the period. Royce & Associates LP lifted its holdings in AXT by 13.5% during the second quarter. Royce & Associates LP now owns 918,980 shares of the semiconductor company’s stock worth $5,836,000 after buying an additional 109,237 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in AXT by 14.6% during the third quarter. Systematic Financial Management LP now owns 682,711 shares of the semiconductor company’s stock worth $6,247,000 after buying an additional 87,121 shares during the period. Institutional investors own 60.36% of the company’s stock.
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AXT Company Profile
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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