AXT (NASDAQ:AXTI) Stock Rating Reaffirmed by Wedbush

AXT (NASDAQ:AXTI)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued to investors on Monday, Benzinga reports. They currently have a $6.00 price objective on the semiconductor company’s stock. Wedbush’s price target points to a potential upside of 75.95% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. B. Riley raised 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. Craig Hallum upped their target price on shares of AXT from $3.75 to $5.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and four 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 target price of $5.38.

AXT Trading Up 4.9 %

AXTI stock opened at $3.41 on Monday. The stock has a market cap of $151.40 million, a P/E ratio of -8.52 and a beta of 2.29. AXT has a twelve month low of $1.89 and a twelve month high of $5.64. The company’s 50 day moving average is $3.55 and its two-hundred day moving average is $3.50.

AXT (NASDAQ:AXTI) last announced its quarterly 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. AXT had a negative net margin of 21.01% and a negative return on equity of 7.40%. The firm had revenue of $22.69 million for the quarter, compared to analyst estimates of $21.00 million. During the same period last year, the business earned ($0.08) EPS. On average, equities research analysts predict that AXT will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On AXT

A number of institutional investors have recently added to or reduced their stakes in the business. First Wilshire Securities Management Inc. raised its stake in shares of 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 worth $7,936,000 after buying an additional 779,548 shares in the last quarter. Vanguard Group Inc. lifted its holdings in AXT by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock valued at $10,540,000 after acquiring an additional 20,747 shares during the period. White Pine Capital LLC boosted its position in shares of AXT by 35.9% during the 4th quarter. White Pine Capital LLC now owns 612,630 shares of the semiconductor company’s stock worth $1,470,000 after purchasing an additional 161,893 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of AXT by 9.2% during the 1st quarter. Kennedy Capital Management LLC now owns 605,642 shares of the semiconductor company’s stock worth $2,780,000 after purchasing an additional 50,975 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of AXT by 47.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

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.