AXT Inc (NASDAQ:AXTI) Receives $22.80 Consensus Target Price from Brokerages

AXT Inc (NASDAQ:AXTI) has been assigned a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $22.80.

AXTI has been the subject of a number of analyst reports. Craig Hallum reiterated a “buy” rating on shares of AXT in a research report on Friday, January 9th. Wedbush raised their target price on AXT from $8.50 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. B. Riley Financial upped their price target on AXT to $21.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Wall Street Zen upgraded AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Needham & Company LLC lowered AXT from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th.

AXT Price Performance

Shares of NASDAQ AXTI opened at $60.63 on Wednesday. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -126.31 and a beta of 1.75. AXT has a 12 month low of $1.13 and a 12 month high of $70.88. The firm’s 50 day simple moving average is $34.37 and its 200-day simple moving average is $18.65.

AXT (NASDAQ:AXTI) last posted its earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). AXT had a negative net margin of 24.07% and a negative return on equity of 9.50%. The firm had revenue of $23.04 million during the quarter, compared to analyst estimates of $24.24 million. Analysts anticipate that AXT will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at AXT

In related news, Director Jesse Chen sold 15,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $47.13, for a total value of $706,950.00. Following the completion of the sale, the director owned 123,612 shares of the company’s stock, valued at approximately $5,825,833.56. The trade was a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David C. Chang sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.53, for a total transaction of $770,600.00. Following the transaction, the director owned 112,744 shares of the company’s stock, valued at $4,344,026.32. This represents a 15.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 502,278 shares of company stock valued at $21,196,754 in the last three months. 8.80% of the stock is currently owned by company insiders.

Institutional Trading of AXT

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of AXT by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after purchasing an additional 8,039 shares during the last quarter. Creative Planning purchased a new stake in AXT during the 2nd quarter worth approximately $86,000. XTX Topco Ltd purchased a new stake in AXT during the 2nd quarter worth approximately $42,000. Assenagon Asset Management S.A. raised its holdings in shares of AXT by 12.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 2,540 shares during the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in shares of AXT during the third quarter valued at approximately $112,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Company Profile

AXT, Inc (NASDAQ: AXTI) is a global supplier of compound and single-element semiconductor substrates, offering a range of materials critical for high-performance electronic and optoelectronic devices. Founded in 1986 and headquartered in Fremont, California, AXT specializes in the development, manufacture and distribution of wafers composed of gallium arsenide (GaAs), indium phosphide (InP), gallium nitride (GaN) and other compound semiconductor materials. These substrates serve as the foundational platforms for devices used in data communications, wireless infrastructure, advanced computing, consumer electronics and photovoltaic applications.

AXT’s product portfolio encompasses a variety of wafer sizes, dopant concentrations and crystal orientations, tailored to meet the precise specifications of its customers.