Analysts Set AXT, Inc. (NASDAQ:AXTI) Target Price at $5.10

AXT, Inc. (NASDAQ:AXTI) has earned an average recommendation of “Buy” from the five research firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.10.

Several equities research analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Friday, February 21st. Wedbush restated an “outperform” rating and set a $4.50 price objective (down from $5.50) on shares of AXT in a research report on Friday, February 21st. Finally, B. Riley restated a “buy” rating and set a $6.00 price objective (up from $5.50) on shares of AXT in a research report on Friday, February 21st.

Institutional Investors Weigh In On AXT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Canandaigua National Bank & Trust Co. acquired a new stake in shares of AXT in the fourth quarter valued at approximately $28,000. Bleakley Financial Group LLC acquired a new stake in shares of AXT in the fourth quarter valued at approximately $29,000. Atlas Brown Inc. acquired a new stake in shares of AXT in the fourth quarter valued at approximately $42,000. Virtu Financial LLC acquired a new stake in shares of AXT in the fourth quarter valued at approximately $54,000. Finally, Jane Street Group LLC acquired a new stake in shares of AXT in the fourth quarter valued at approximately $60,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Stock Performance

AXT stock opened at $1.60 on Thursday. AXT has a 52 week low of $1.29 and a 52 week high of $5.64. The stock has a market capitalization of $71.60 million, a P/E ratio of -5.71 and a beta of 2.17. The stock has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $2.19.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. The business had revenue of $25.11 million for the quarter, compared to the consensus estimate of $23.94 million. Research analysts forecast that AXT will post -0.12 earnings per share for the current year.

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.