AXT, Inc. (NASDAQ:AXTI) Given Average Recommendation of “Buy” by Brokerages

AXT, Inc. (NASDAQ:AXTI) has been given a consensus recommendation of “Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several equities research analysts recently weighed in on AXTI shares. Zacks Investment Research lowered AXT from a “buy” rating to a “hold” rating in a report on Thursday. BWS Financial upped their price target on AXT from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. B. Riley upped their price target on AXT from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Friday, February 19th. Craig Hallum reiterated a “buy” rating and set a $17.00 price target on shares of AXT in a report on Friday, February 19th. Finally, Northland Securities upped their price target on AXT from $10.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, February 19th.

In other news, Director Jesse Chen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $13.09, for a total transaction of $130,900.00. Following the sale, the director now directly owns 93,056 shares in the company, valued at $1,218,103.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Morris S. Young sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $10.97, for a total value of $438,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,550 shares of company stock worth $1,824,568. 8.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXTI. Founders Capital Management bought a new stake in shares of AXT during the fourth quarter valued at approximately $29,000. Lazard Asset Management LLC bought a new stake in AXT in the first quarter valued at $36,000. Rockefeller Capital Management L.P. bought a new stake in AXT in the first quarter valued at $46,000. Dorsey Wright & Associates grew its position in AXT by 134.9% in the first quarter. Dorsey Wright & Associates now owns 4,190 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 2,406 shares during the period. Finally, Citigroup Inc. grew its position in AXT by 306.7% in the fourth quarter. Citigroup Inc. now owns 7,630 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 5,754 shares during the period. Institutional investors and hedge funds own 61.83% of the company’s stock.

AXTI traded up $0.23 on Friday, hitting $8.95. The company had a trading volume of 254,340 shares, compared to its average volume of 512,579. The company’s fifty day moving average price is $10.94 and its 200 day moving average price is $10.63. AXT has a 1-year low of $4.30 and a 1-year high of $15.84. The stock has a market cap of $377.56 million, a price-to-earnings ratio of -298.23 and a beta of 2.29.

AXT (NASDAQ:AXTI) last posted its earnings results on Tuesday, April 27th. The semiconductor company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. AXT had a negative return on equity of 0.46% and a negative net margin of 1.01%. The firm had revenue of $31.35 million during the quarter, compared to analyst estimates of $29.11 million. Analysts expect that AXT will post 0.05 earnings per share for the current fiscal year.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

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