AXT Inc (AXTI) Receives $8.50 Consensus PT from Analysts

AXT Inc (NASDAQ:AXTI) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.50.

Several equities analysts have recently issued reports on the company. B. Riley lowered their price target on AXT from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Thursday, November 1st. Zacks Investment Research upgraded AXT from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. BidaskClub upgraded AXT from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, ValuEngine downgraded AXT from a “hold” rating to a “sell” rating in a research note on Friday, September 7th.

A number of institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP raised its stake in AXT by 27.6% in the second quarter. Systematic Financial Management LP now owns 1,142,463 shares of the semiconductor company’s stock valued at $8,054,000 after buying an additional 246,999 shares during the last quarter. Royce & Associates LP raised its position in AXT by 14.2% during the second quarter. Royce & Associates LP now owns 1,679,684 shares of the semiconductor company’s stock valued at $11,842,000 after acquiring an additional 209,075 shares in the last quarter. Foundry Partners LLC raised its position in AXT by 37.3% during the third quarter. Foundry Partners LLC now owns 641,385 shares of the semiconductor company’s stock valued at $4,586,000 after acquiring an additional 174,160 shares in the last quarter. BlackRock Inc. raised its position in AXT by 7.0% during the second quarter. BlackRock Inc. now owns 2,653,369 shares of the semiconductor company’s stock valued at $18,706,000 after acquiring an additional 172,795 shares in the last quarter. Finally, Putnam Investments LLC acquired a new stake in AXT in the third quarter valued at approximately $1,118,000. 54.36% of the stock is currently owned by institutional investors.

Shares of AXTI stock traded up $0.08 during trading hours on Thursday, hitting $4.35. 641,262 shares of the company’s stock were exchanged, compared to its average volume of 435,291. AXT has a 12-month low of $4.17 and a 12-month high of $9.45. The company has a market capitalization of $177.52 million, a PE ratio of 16.73, a price-to-earnings-growth ratio of 0.89 and a beta of 1.14.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $28.63 million for the quarter, compared to analysts’ expectations of $28.14 million. AXT had a net margin of 13.00% and a return on equity of 7.32%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. As a group, equities analysts forecast that AXT will post 0.34 EPS for the current fiscal year.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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