AXT (NASDAQ:AXTI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a report released on Monday morning.

AXTI has been the topic of several other reports. Wedbush reiterated an outperform rating and set a $6.00 price target on shares of AXT in a research note on Friday, May 3rd. B. Riley lifted their price target on shares of AXT from $3.80 to $5.50 and gave the stock a buy rating in a research note on Friday, April 5th. Craig Hallum lifted their price target on shares of AXT from $3.75 to $5.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Finally, Needham & Company LLC reiterated a buy rating and set a $5.00 price target on shares of AXT in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, AXT has a consensus rating of Moderate Buy and a consensus target price of $5.38.

AXT Trading Down 2.1 %

Shares of AXTI opened at $3.78 on Monday. AXT has a twelve month low of $1.89 and a twelve month high of $5.64. The firm’s fifty day simple moving average is $3.97 and its 200-day simple moving average is $2.97. The firm has a market capitalization of $167.26 million, a price-to-earnings ratio of -9.45 and a beta of 2.28.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. AXT had a negative net margin of 21.01% and a negative return on equity of 7.36%. The business 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, analysts predict that AXT will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AXTI. First Wilshire Securities Management Inc. grew its position in 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 purchasing an additional 779,548 shares during the last quarter. Assenagon Asset Management S.A. grew its position in AXT by 866.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,570 shares of the semiconductor company’s stock worth $616,000 after purchasing an additional 230,013 shares during the last quarter. GSA Capital Partners LLP grew its position in AXT by 127.3% during the 3rd quarter. GSA Capital Partners LLP now owns 377,321 shares of the semiconductor company’s stock worth $906,000 after purchasing an additional 211,351 shares during the last quarter. White Pine Capital LLC grew its position in 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 during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in AXT during the 1st quarter worth $743,000. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.