AXT’s (AXTI) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of AXT (NASDAQ:AXTI) in a report released on Friday morning,Benzinga reports. They currently have a $5.00 target price on the semiconductor company’s stock.

A number of other research firms have also recently commented on AXTI. Northland Securities lowered their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $5.50 target price on shares of AXT in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.10.

AXT Stock Down 31.0 %

Shares of AXT stock opened at $1.58 on Friday. The firm’s 50 day moving average price is $2.17 and its 200-day moving average price is $2.29. AXT has a 52-week low of $1.56 and a 52-week high of $5.64. The company has a market cap of $70.71 million, a P/E ratio of -5.64 and a beta of 2.08.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The company had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. As a group, equities research analysts forecast that AXT will post -0.12 EPS for the current fiscal year.

Institutional Trading of AXT

Institutional investors and hedge funds have recently bought and sold shares of the business. Canandaigua National Bank & Trust Co. acquired a new stake in AXT during the 4th quarter valued at approximately $28,000. Bleakley Financial Group LLC acquired a new stake in AXT during the 4th quarter valued at approximately $29,000. Atlas Brown Inc. acquired a new stake in AXT during the 4th quarter valued at approximately $42,000. Virtu Financial LLC acquired a new stake in AXT during the 4th quarter valued at approximately $54,000. Finally, Jane Street Group LLC acquired a new stake in AXT during the 4th quarter valued at approximately $60,000. 49.52% of the stock is currently 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.