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 note published on Friday.

AXTI has been the topic of several other research reports. Wedbush restated an outperform rating and set a $6.00 target price on shares of AXT in a research report on Monday, July 29th. Needham & Company LLC reaffirmed a buy rating and set a $5.00 price objective on shares of AXT in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $5.38.

AXT Stock Performance

NASDAQ:AXTI opened at $2.00 on Friday. The company has a market capitalization of $88.80 million, a PE ratio of -5.00 and a beta of 2.23. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64. The company has a 50 day simple moving average of $2.74 and a two-hundred day simple moving average of $3.38.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $27.92 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned ($0.12) earnings per share. Research analysts predict that AXT will post -0.19 EPS for the current year.

Hedge Funds Weigh In On AXT

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in AXT by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 2,500 shares in the last quarter. Byrne Asset Management LLC raised its holdings in shares of AXT by 125.0% in 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 last quarter. Brown Advisory Inc. bought a new position in AXT in the 4th quarter valued at about $50,000. SG Americas Securities LLC acquired a new position in AXT during the 1st quarter valued at about $52,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in AXT during the 1st quarter valued at about $77,000. 49.52% of the stock is owned by institutional investors and hedge funds.

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.