AXT (NASDAQ:AXTI) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of AXT (NASDAQ:AXTI) in a research report report published on Friday, Benzinga reports. Wedbush currently has a $6.00 price target on the semiconductor company’s stock.

A number of other analysts also recently weighed in on AXTI. StockNews.com downgraded shares of AXT from a hold rating to a sell rating in a report on Saturday, March 2nd. Craig Hallum raised their target price on shares of AXT from $3.75 to $5.00 and gave the stock a buy rating in a report on Tuesday, April 9th. B. Riley increased their price objective on shares of AXT from $3.80 to $5.50 and gave the stock a buy rating in a research report on Friday, April 5th. Finally, Needham & Company LLC restated a buy rating and set a $5.00 target price on shares of AXT in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $5.38.

AXT Stock Performance

Shares of AXT stock opened at $3.93 on Friday. The company has a fifty day moving average of $4.02 and a 200 day moving average of $2.95. The company has a market capitalization of $173.90 million, a P/E ratio of -9.82 and a beta of 2.28. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. AXT had a negative net margin of 21.01% and a negative return on equity of 7.36%. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Analysts forecast that AXT will post -0.1 EPS for the current year.

Hedge Funds Weigh In On AXT

Large investors have recently made changes to their positions in the business. First Wilshire Securities Management Inc. grew its stake in AXT by 30.8% during the 4th quarter. First Wilshire Securities Management Inc. now owns 3,306,715 shares of the semiconductor company’s stock valued at $7,936,000 after purchasing an additional 779,548 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in AXT by 1.8% during the third quarter. Pacific Ridge Capital Partners LLC now owns 1,232,069 shares of the semiconductor company’s stock worth $2,957,000 after acquiring an additional 21,973 shares during the period. White Pine Capital LLC increased its stake in shares of AXT by 35.9% in the 4th quarter. White Pine Capital LLC now owns 612,630 shares of the semiconductor company’s stock valued at $1,470,000 after purchasing an additional 161,893 shares in the last quarter. Franklin Resources Inc. grew its position in shares of AXT by 47.0% in the fourth quarter. Franklin Resources Inc. now owns 465,948 shares of the semiconductor company’s stock valued at $1,118,000 after purchasing an additional 149,048 shares during the period. Finally, GSA Capital Partners LLP raised its stake in AXT by 127.3% in the 3rd quarter. GSA Capital Partners LLP now owns 377,321 shares of the semiconductor company’s stock valued at $906,000 after purchasing an additional 211,351 shares during the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

About AXT

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.