AXT (NASDAQ:AXTI) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of AXT (NASDAQ:AXTI) from a hold rating to a sell rating in a research report report published on Monday.

Other analysts have also issued reports about the company. Wedbush reiterated an outperform rating and set a $6.00 price target on shares of AXT in a report on Monday, July 29th. Needham & Company LLC reiterated a buy rating and set a $5.00 target price on shares of AXT in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $5.38.

AXT Stock Up 0.4 %

Shares of AXT stock opened at $2.35 on Monday. AXT has a 52 week low of $1.89 and a 52 week high of $5.64. The business has a 50 day moving average price of $2.59 and a 200-day moving average price of $3.28. The company has a market cap of $104.34 million, a PE ratio of -5.80 and a beta of 2.23.

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

Institutional Trading of AXT

Several hedge funds have recently made changes to their positions in AXTI. PNC Financial Services Group Inc. increased its holdings in AXT by 28.7% in the 4th 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 last quarter. Byrne Asset Management LLC increased its stake in shares of AXT by 125.0% in the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 7,500 shares in the last quarter. Keystone Wealth Services LLC raised its position in shares of AXT by 4.3% in the second quarter. Keystone Wealth Services LLC now owns 202,223 shares of the semiconductor company’s stock valued at $684,000 after purchasing an additional 8,333 shares during the period. SG Americas Securities LLC purchased a new stake in shares of AXT during the 1st quarter valued at approximately $52,000. Finally, Quadrature Capital Ltd boosted its holdings in AXT by 46.6% in the 4th quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock worth $90,000 after buying an additional 11,892 shares during the period. 49.52% of the stock is currently 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.