AXT (NASDAQ:AXTI) Upgraded at StockNews.com

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

A number of other analysts also recently commented on the stock. Craig Hallum increased their price objective on shares of AXT from $3.75 to $5.00 and gave the company a buy rating in a report on Tuesday, April 9th. B. Riley lifted their price objective on AXT from $3.80 to $5.50 and gave the stock a buy rating in a research report on Friday, April 5th. Wedbush restated an outperform rating and issued a $6.00 target price on shares of AXT in a report on Friday, May 3rd. Finally, Needham & Company LLC reiterated a buy rating and set a $5.00 price target on shares of AXT in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AXT presently has a consensus rating of Moderate Buy and a consensus target price of $5.38.

AXT Trading Down 1.1 %

AXTI stock opened at $3.56 on Wednesday. The business’s 50-day moving average is $3.45 and its 200 day moving average is $3.18. AXT has a 12-month low of $1.89 and a 12-month high of $5.64. The stock has a market cap of $158.06 million, a price-to-earnings ratio of -8.90 and a beta of 2.26.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $22.69 million during the quarter, compared to analysts’ expectations of $21.00 million. AXT had a negative return on equity of 7.40% and a negative net margin of 21.01%. During the same period in the previous year, the business earned ($0.08) earnings per share. As a group, equities analysts forecast that AXT will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of 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 buying an additional 2,500 shares in the last quarter. Byrne Asset Management LLC acquired a new position in AXT during the 1st quarter worth approximately $28,000. SG Americas Securities LLC purchased a new stake in shares of AXT in the 1st quarter valued at approximately $52,000. Quadrature Capital Ltd raised its holdings in shares of AXT by 46.6% in the 4th quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 11,892 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of AXT by 8.1% during the 1st quarter. Empowered Funds LLC now owns 158,651 shares of the semiconductor company’s stock worth $728,000 after purchasing an additional 11,900 shares during the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

About AXT

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.