AXT (NASDAQ:AXTI) Price Target Cut to $5.00 by Analysts at Northland Securities

AXT (NASDAQ:AXTI) had its target price cut by Northland Securities from $6.00 to $5.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of AXT in a research note on Friday. Finally, Wedbush restated an “outperform” rating and issued a $6.00 target price on shares of AXT in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.30.

AXT Stock Down 18.1 %

AXT stock traded down $0.47 on Friday, hitting $2.11. The company’s stock had a trading volume of 1,412,901 shares, compared to its average volume of 1,042,242. The firm has a market cap of $93.86 million, a P/E ratio of -6.59 and a beta of 2.23. The company has a fifty day moving average price of $2.46 and a 200-day moving average price of $3.01. AXT has a one year low of $1.89 and a one year high of $5.64.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) EPS for the quarter, beating 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 company had revenue of $27.92 million for the quarter, compared to the consensus estimate of $26.50 million. During the same quarter in the previous year, the company earned ($0.12) EPS. Analysts anticipate that AXT will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in AXT by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,296,204 shares of the semiconductor company’s stock worth $10,540,000 after buying an additional 20,747 shares in the last quarter. Kennedy Capital Management LLC lifted its position in AXT by 9.2% during the 1st quarter. Kennedy Capital Management LLC now owns 605,642 shares of the semiconductor company’s stock valued at $2,780,000 after purchasing an additional 50,975 shares during the period. Renaissance Technologies LLC lifted its position in AXT by 1,142.1% during the 2nd quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock valued at $1,276,000 after purchasing an additional 347,200 shares during the period. Acadian Asset Management LLC lifted its position in AXT by 833.3% during the 2nd quarter. Acadian Asset Management LLC now owns 272,416 shares of the semiconductor company’s stock valued at $919,000 after purchasing an additional 243,226 shares during the period. Finally, Keystone Wealth Services LLC lifted its position in AXT by 4.3% during the 2nd 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. Institutional investors and hedge funds 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.