AXT, Inc. (NASDAQ:AXTI) Given Consensus Rating of “Buy” by Brokerages

Shares of AXT, Inc. (NASDAQ:AXTI) have been given a consensus recommendation of “Buy” by the four brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $5.30.

A number of equities analysts recently issued reports on AXTI shares. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of AXT in a research report on Monday, April 8th. B. Riley upped their price objective 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. Craig Hallum upped their price objective on shares of AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Tuesday, April 9th.

Hedge Funds Weigh In On AXT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its position in 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 acquiring an additional 230,013 shares during the period. Brookstone Capital Management bought a new stake in shares of AXT in the 4th quarter valued at $37,000. Pacific Ridge Capital Partners LLC boosted its stake in shares of AXT by 1.8% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 1,232,069 shares of the semiconductor company’s stock valued at $2,957,000 after purchasing an additional 21,973 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of AXT by 127.3% in the 3rd quarter. GSA Capital Partners LLP now owns 377,321 shares of the semiconductor company’s stock valued at $906,000 after purchasing an additional 211,351 shares during the last quarter. Finally, Barclays PLC bought a new stake in shares of AXT in the 3rd quarter valued at $60,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Trading Down 5.8 %

Shares of NASDAQ:AXTI opened at $2.77 on Friday. The firm has a 50 day moving average of $3.92 and a 200-day moving average of $2.89. The stock has a market capitalization of $122.57 million, a PE ratio of -6.44 and a beta of 2.24. AXT has a 12 month low of $1.89 and a 12 month high of $5.64.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05. The company had revenue of $20.43 million during the quarter, compared to analysts’ expectations of $17.62 million. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. On average, research analysts predict that AXT will post -0.1 EPS for the current fiscal 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.