AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Wedbush in a research report issued on Friday,RTT News reports. They presently have a $4.50 price target on the semiconductor company's stock, down from their previous price target of $5.50. Wedbush's price target points to a potential upside of 184.81% from the company's previous close.
Several other brokerages have also commented on AXTI. Northland Securities dropped their price target on shares of AXT from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. B. Riley reiterated a "buy" rating and set a $6.00 price objective (up previously from $5.50) on shares of AXT in a research note on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $5.00 price objective on shares of AXT in a research note on Friday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, AXT has a consensus rating of "Moderate Buy" and a consensus price target of $5.10.
Get Our Latest Stock Analysis on AXTI
Shares of NASDAQ:AXTI traded down $0.71 during trading hours on Friday, hitting $1.58. The stock had a trading volume of 6,654,761 shares, compared to its average volume of 411,068. The stock's fifty day simple moving average is $2.17 and its 200 day simple moving average is $2.29. AXT has a 1-year low of $1.56 and a 1-year high of $5.64. The firm has a market capitalization of $70.71 million, a price-to-earnings ratio of -5.64 and a beta of 2.08.
AXT (NASDAQ:AXTI - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. The firm had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. As a group, research analysts anticipate that AXT will post -0.12 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Canandaigua National Bank & Trust Co. acquired a new position in AXT in the fourth quarter worth approximately $28,000. Bleakley Financial Group LLC acquired a new position in AXT in the fourth quarter worth approximately $29,000. Atlas Brown Inc. acquired a new position in AXT in the fourth quarter worth approximately $42,000. Virtu Financial LLC acquired a new position in AXT in the fourth quarter worth approximately $54,000. Finally, Jane Street Group LLC acquired a new position in AXT in the fourth quarter worth approximately $60,000. Institutional investors and hedge funds own 49.52% of the company's stock.
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.
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