ValuEngine Downgrades AXT (NASDAQ:AXTI) to Hold

ValuEngine cut shares of AXT (NASDAQ:AXTI) from a buy rating to a hold rating in a report issued on Saturday morning, ValuEngine reports.

A number of other equities research analysts also recently weighed in on AXTI. Zacks Investment Research upgraded AXT from a strong sell rating to a hold rating in a report on Tuesday, December 31st. Dougherty & Co downgraded AXT from a buy rating to a neutral rating in a report on Thursday, October 3rd. TheStreet downgraded AXT from a c rating to a d+ rating in a report on Friday, November 1st. Finally, Northland Securities reiterated a buy rating and issued a $6.00 price target on shares of AXT in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $5.25.

Shares of NASDAQ AXTI opened at $4.49 on Friday. AXT has a twelve month low of $2.72 and a twelve month high of $6.14. The company has a current ratio of 4.69, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $197.08 million, a price-to-earnings ratio of -112.25 and a beta of 1.58. The business has a 50 day simple moving average of $3.99 and a 200-day simple moving average of $3.63.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.01. AXT had a negative return on equity of 0.84% and a negative net margin of 1.85%. The business had revenue of $19.80 million during the quarter, compared to the consensus estimate of $19.80 million. During the same period in the previous year, the business earned $0.10 EPS. The business’s quarterly revenue was down 30.8% on a year-over-year basis. As a group, equities analysts predict that AXT will post -0.08 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of AXT in the 3rd quarter valued at approximately $48,000. Cubist Systematic Strategies LLC bought a new position in AXT during the 2nd quarter worth $54,000. Jefferies Group LLC bought a new position in AXT during the 2nd quarter worth $59,000. A.R.T. Advisors LLC bought a new position in AXT during the 2nd quarter worth $85,000. Finally, Squarepoint Ops LLC grew its stake in AXT by 35.4% during the 3rd quarter. Squarepoint Ops LLC now owns 36,825 shares of the semiconductor company’s stock worth $131,000 after buying an additional 9,620 shares during the last quarter. Institutional investors and hedge funds own 53.58% 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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