AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at B. Riley in a note issued to investors on Friday,Benzinga reports. They presently have a $6.00 target price on the semiconductor company's stock, up from their prior target price of $5.50. B. Riley's price target would indicate a potential upside of 256.08% from the stock's previous close.
Several other research firms have also recently commented on AXTI. Needham & Company LLC reaffirmed a "buy" rating and set a $5.00 target price on shares of AXT in a research note on Friday. Wedbush reaffirmed an "outperform" rating and set a $5.50 price objective on shares of AXT in a research report on Friday, February 7th. Finally, Northland Securities dropped their target price on shares of AXT from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, AXT currently has an average rating of "Moderate Buy" and a consensus price target of $5.30.
Check Out Our Latest Stock Analysis on AXTI
Shares of NASDAQ:AXTI traded down $0.61 during midday trading on Friday, hitting $1.69. 2,570,994 shares of the stock were exchanged, compared to its average volume of 408,191. The business's 50-day moving average price is $2.19 and its 200 day moving average price is $2.30. AXT has a 12 month low of $1.61 and a 12 month high of $5.64. The stock has a market capitalization of $75.40 million, a price-to-earnings ratio of -6.80 and a beta of 2.08.
AXT (NASDAQ:AXTI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). The company had revenue of $25.11 million during the quarter, compared to the consensus estimate of $23.94 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. As a group, sell-side analysts expect that AXT will post -0.22 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Canandaigua National Bank & Trust Co. bought a new position in shares of AXT during the 4th quarter valued at approximately $28,000. Bleakley Financial Group LLC bought a new stake in shares of AXT in the fourth quarter valued at $29,000. Atlas Brown Inc. purchased a new position in shares of AXT during the 4th quarter valued at $42,000. Virtu Financial LLC bought a new position in shares of AXT during the 4th quarter worth $54,000. Finally, Jane Street Group LLC purchased a new stake in AXT in the 4th quarter worth about $60,000. Hedge funds and other institutional investors 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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