AXT, Inc. (NASDAQ:AXTI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of AXT, Inc. (NASDAQ:AXTI) have earned a consensus recommendation of “Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $5.30.

Several analysts recently weighed in on the company. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of AXT in a report on Monday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of AXT in a report on Friday, November 1st. Finally, Northland Securities dropped their price target on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of AXT in the 1st quarter worth approximately $52,000. Byrne Asset Management LLC increased its stake in AXT by 125.0% in the 2nd quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 7,500 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in AXT during the first quarter valued at about $93,000. Barclays PLC acquired a new position in shares of AXT in the third quarter worth about $85,000. Finally, Bailard Inc. purchased a new position in shares of AXT in the second quarter worth approximately $122,000. Institutional investors and hedge funds own 49.52% of the company’s stock.

AXT Stock Up 4.6 %

AXT stock opened at $2.06 on Tuesday. The firm has a fifty day moving average of $2.30 and a 200-day moving average of $2.88. AXT has a 52-week low of $1.73 and a 52-week high of $5.64. The firm has a market capitalization of $92.19 million, a P/E ratio of -8.24 and a beta of 2.22.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $23.65 million for the quarter, compared to analysts’ expectations of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same period in the previous year, the firm posted ($0.14) earnings per share. On average, research analysts expect that AXT will post -0.22 EPS for the current fiscal year.

AXT Company Profile

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.