AXT (NASDAQ:AXTI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of AXT (NASDAQ:AXTI) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $4.50 price objective on the semiconductor company’s stock.

According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “

Separately, ValuEngine downgraded Willdan Group from a buy rating to a hold rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $5.38.

Shares of NASDAQ:AXTI opened at $3.95 on Thursday. The stock has a market cap of $158.40 million, a P/E ratio of 28.21, a P/E/G ratio of 1.99 and a beta of 1.45. AXT has a one year low of $3.55 and a one year high of $9.38. The company’s 50-day moving average is $4.06.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. AXT had a return on equity of 2.97% and a net margin of 5.78%. The company had revenue of $20.20 million for the quarter, compared to the consensus estimate of $20.69 million. During the same period in the previous year, the business earned $0.07 EPS. AXT’s revenue for the quarter was down 17.2% compared to the same quarter last year. Research analysts forecast that AXT will post 0.13 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its holdings in shares of AXT by 507.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 6,625 shares during the last quarter. Brinker Capital Inc. increased its holdings in shares of AXT by 299.2% in the 1st quarter. Brinker Capital Inc. now owns 45,823 shares of the semiconductor company’s stock valued at $204,000 after acquiring an additional 34,345 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of AXT in the 4th quarter valued at approximately $209,000. Rhumbline Advisers increased its holdings in shares of AXT by 42.5% in the 4th quarter. Rhumbline Advisers now owns 52,855 shares of the semiconductor company’s stock valued at $230,000 after acquiring an additional 15,765 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of AXT in the 1st quarter valued at approximately $251,000. Institutional investors and hedge funds own 57.72% of the company’s stock.

About AXT

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces 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, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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