AXT’s (AXTI) Outperform Rating Reiterated at Wedbush

AXT (NASDAQ:AXTI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a report issued on Friday,RTT News reports. They presently have a $5.50 target price on the semiconductor company’s stock. Wedbush’s price objective suggests a potential upside of 161.90% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday, November 1st. Northland Securities lowered their price target on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. 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, AXT presently has an average rating of “Moderate Buy” and an average target price of $5.20.

AXT Stock Down 3.7 %

Shares of AXTI stock traded down $0.08 during mid-day trading on Friday, hitting $2.10. 174,529 shares of the stock were exchanged, compared to its average volume of 256,085. AXT has a 52-week low of $1.73 and a 52-week high of $5.64. The firm has a fifty day moving average of $2.19 and a 200 day moving average of $2.38. The company has a market cap of $93.98 million, a PE ratio of -8.40 and a beta of 2.08.

Institutional Trading of AXT

Institutional investors and hedge funds have recently made changes to their positions in the stock. Systematic Financial Management LP lifted its position in AXT by 13.0% during the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after buying an additional 169,406 shares in the last quarter. White Pine Capital LLC lifted its holdings in shares of AXT by 0.8% during the 4th quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company’s stock valued at $1,451,000 after acquiring an additional 5,246 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in AXT by 10.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock worth $1,468,000 after purchasing an additional 54,891 shares during the period. Geode Capital Management LLC increased its holdings in AXT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock valued at $1,123,000 after purchasing an additional 7,577 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in AXT by 25.1% in the third quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock valued at $730,000 after purchasing an additional 60,623 shares during the period. 49.52% of the stock is currently owned by hedge funds and other 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.