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

AXT, Inc. (NASDAQ:AXTI) has been assigned an average rating of “Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.30.

Several research analysts have issued reports on AXTI shares. Northland Securities reduced their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of AXT in a report on Friday, November 1st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC bought a new stake in AXT in the third quarter valued at about $85,000. Bailard Inc. bought a new position in AXT during the second quarter worth about $122,000. Creative Planning acquired a new position in shares of AXT during the 3rd quarter worth about $127,000. Assenagon Asset Management S.A. increased its stake in shares of AXT by 26.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after acquiring an additional 13,376 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of AXT in the 2nd quarter valued at approximately $468,000. 49.52% of the stock is currently owned by institutional investors.

AXT Stock Down 1.7 %

AXT stock opened at $2.27 on Friday. The stock has a 50-day simple moving average of $2.22 and a 200 day simple moving average of $2.68. The stock has a market capitalization of $101.58 million, a price-to-earnings ratio of -9.08 and a beta of 2.15. AXT has a 12-month low of $1.73 and a 12-month high of $5.64.

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