AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a research note issued on Friday,RTT News reports. They currently 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 indicates a potential upside of 184.81% from the stock's current price.
AXTI has been the subject of a number of other research reports. Needham & Company LLC reiterated a "buy" rating and set a $5.00 price target on shares of AXT in a research note on Friday. B. Riley reissued a "buy" rating and set a $6.00 target price (up previously from $5.50) on shares of AXT in a research report on Friday. 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 investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, AXT presently has an average rating of "Moderate Buy" and a consensus price target of $5.10.
View Our Latest Stock Analysis on AXTI
Shares of 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 543,382. The firm has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.29. The firm has a market capitalization of $70.71 million, a P/E ratio of -6.32 and a beta of 2.08. AXT has a 1-year low of $1.56 and a 1-year high of $5.64.
AXT (NASDAQ:AXTI - Get Free Report) last issued its 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). The firm had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. Equities analysts predict that AXT will post -0.22 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Formidable Asset Management LLC raised its holdings in shares of AXT by 40.7% in the 4th quarter. Formidable Asset Management LLC now owns 43,500 shares of the semiconductor company's stock worth $94,000 after purchasing an additional 12,575 shares during the period. Systematic Financial Management LP raised its holdings in AXT by 5.0% during the 4th quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company's stock valued at $3,366,000 after acquiring an additional 74,211 shares during the period. Point72 Asset Management L.P. bought a new stake in AXT during the 4th quarter valued at $628,000. Man Group plc bought a new stake in AXT during the 4th quarter valued at $67,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in AXT by 5.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 302,936 shares of the semiconductor company's stock valued at $657,000 after acquiring an additional 16,842 shares during the period. 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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