AXT (NASDAQ:AXTI) Price Target Lowered to $5.00 at Northland Securities

AXT (NASDAQ:AXTI) had its price objective reduced by Northland Securities from $6.00 to $5.00 in a research note issued to investors on Friday, Benzinga reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of AXT in a research note on Friday. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of AXT in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.30.

AXT Stock Down 18.1 %

Shares of AXT stock traded down $0.47 during trading on Friday, hitting $2.11. The stock had a trading volume of 1,412,901 shares, compared to its average volume of 1,042,242. The stock has a 50 day simple moving average of $2.46 and a 200 day simple moving average of $3.01. The company has a market capitalization of $93.86 million, a PE ratio of -6.59 and a beta of 2.23. AXT has a 1 year low of $1.89 and a 1 year high of $5.64.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $27.92 million during the quarter, compared to analysts’ expectations of $26.50 million. AXT had a negative net margin of 14.75% and a negative return on equity of 5.87%. During the same period last year, the company posted ($0.12) earnings per share. As a group, equities analysts expect that AXT will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AXT

A number of institutional investors and hedge funds have recently bought and sold shares of AXTI. PNC Financial Services Group Inc. increased its position in AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 2,500 shares during the period. Byrne Asset Management LLC increased its position in AXT by 125.0% during the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 7,500 shares during the period. SG Americas Securities LLC bought a new position in AXT during the first quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in AXT in the 1st quarter valued at $77,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in AXT in the 1st quarter valued at $93,000. Institutional investors own 49.52% of the company’s stock.

AXT Company Profile

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.