AXT (NASDAQ:AXTI) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of AXT (NASDAQ:AXTI) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

Several other research analysts have also recently weighed in on AXTI. Wedbush restated an outperform rating and issued a $6.00 price objective on shares of AXT in a research report on Monday, July 29th. Needham & Company LLC reissued a buy rating and issued a $5.00 price target on shares of AXT in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, AXT presently has an average rating of Moderate Buy and an average price target of $5.38.

AXT Price Performance

AXTI opened at $2.35 on Monday. The firm has a market capitalization of $104.34 million, a P/E ratio of -5.80 and a beta of 2.23. AXT has a one year low of $1.89 and a one year high of $5.64. The company has a fifty day moving average price of $2.59 and a 200-day moving average price of $3.28.

AXT (NASDAQ:AXTI) last posted its earnings results 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 return on equity of 5.87% and a negative net margin of 14.75%. The business had revenue of $27.92 million during the quarter, compared to analysts’ expectations of $26.50 million. During the same period in the previous year, the business earned ($0.12) earnings per share. On average, analysts expect that AXT will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On AXT

A number of large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in 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 raised its stake in shares of AXT by 125.0% during the second 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 in the last quarter. Keystone Wealth Services LLC boosted its stake in shares of AXT by 4.3% in 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 in the last quarter. SG Americas Securities LLC purchased a new stake in shares of AXT in the 1st quarter valued at $52,000. Finally, Quadrature Capital Ltd boosted its stake 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. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.