AXT (NASDAQ:AXTI) Receives Outperform Rating from Wedbush

AXT (NASDAQ:AXTI)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued on Friday,RTT News reports. They currently have a $4.50 price target on the semiconductor company’s stock, down from their previous price target of $5.50. Wedbush’s price target indicates a potential upside of 184.81% from the stock’s current price.

AXTI has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of AXT in a research note on Friday. B. Riley reissued a “buy” rating and set a $6.00 target price (up previously from $5.50) on shares of AXT in a research report on Friday. Finally, Northland Securities dropped their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, AXT presently has an average rating of “Moderate Buy” and a consensus price target of $5.10.

AXT Price Performance

Shares of AXTI traded down $0.71 during trading hours on Friday, hitting $1.58. The stock had a trading volume of 6,654,761 shares, compared to its average volume of 543,382. The firm has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.29. The firm has a market capitalization of $70.71 million, a P/E ratio of -6.32 and a beta of 2.08. AXT has a 1-year low of $1.56 and a 1-year high of $5.64.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. Equities analysts predict that AXT will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On AXT

A number of hedge funds have recently modified their holdings of the stock. Formidable Asset Management LLC raised its holdings in shares of AXT by 40.7% in the 4th quarter. Formidable Asset Management LLC now owns 43,500 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 12,575 shares during the period. Systematic Financial Management LP raised its holdings in AXT by 5.0% during the 4th quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company’s stock valued at $3,366,000 after acquiring an additional 74,211 shares during the period. Point72 Asset Management L.P. bought a new stake in AXT during the 4th quarter valued at $628,000. Man Group plc bought a new stake in AXT during the 4th quarter valued at $67,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in AXT by 5.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 302,936 shares of the semiconductor company’s stock valued at $657,000 after acquiring an additional 16,842 shares during the period. 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.