AXT (NASDAQ:AXTI) Raised to Hold at StockNews.com

StockNews.com upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a research note released on Friday.

AXTI has been the subject of a number of other reports. Wedbush reissued an outperform rating and issued a $6.00 target price on shares of AXT in a research report on Monday, July 29th. Needham & Company LLC reiterated a buy rating and set a $5.00 price target on shares of AXT in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $5.38.

AXT Price Performance

NASDAQ AXTI opened at $2.00 on Friday. The business’s fifty day moving average is $2.74 and its 200-day moving average is $3.38. The stock has a market capitalization of $88.80 million, a price-to-earnings ratio of -5.00 and a beta of 2.23. AXT has a one year low of $1.89 and a one year high of $5.64.

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

Hedge Funds Weigh In On AXT

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of AXT by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after buying an additional 2,500 shares in the last quarter. Byrne Asset Management LLC increased its holdings in AXT by 125.0% during the 2nd 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. Brown Advisory Inc. purchased a new stake in AXT in the 4th quarter worth approximately $50,000. SG Americas Securities LLC bought a new position in AXT in the 1st quarter valued at $52,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of AXT during the 1st quarter valued at $77,000. 49.52% of the stock is owned by institutional investors.

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.