AXT (NASDAQ:AXTI) Receives Outperform Rating from Wedbush

AXT (NASDAQ:AXTI)‘s stock had its “outperform” rating reaffirmed by Wedbush in a note issued to investors on Friday,RTT News reports. They presently have a $4.50 price objective on the semiconductor company’s stock, down from their previous price objective of $5.50. Wedbush’s price objective indicates a potential upside of 184.81% from the stock’s previous close.

Several other research analysts have also issued reports on the company. B. Riley restated a “buy” rating and set a $6.00 target price (up previously from $5.50) on shares of AXT in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of AXT in a research report on Friday. Finally, Northland Securities dropped their target price on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.10.

AXT Trading Down 31.0 %

AXTI opened at $1.58 on Friday. The firm has a market cap of $70.71 million, a P/E ratio of -5.64 and a beta of 2.08. AXT has a 12 month low of $1.56 and a 12 month high of $5.64. The stock has a 50-day moving average of $2.17 and a 200 day moving average of $2.29.

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

Institutional Trading of AXT

Institutional investors and hedge funds have recently modified their holdings of the stock. Canandaigua National Bank & Trust Co. bought a new stake in shares of AXT during the fourth quarter valued at approximately $28,000. Bleakley Financial Group LLC bought a new position in AXT in the fourth quarter worth approximately $29,000. Atlas Brown Inc. bought a new position in AXT in the fourth quarter worth approximately $42,000. Virtu Financial LLC bought a new position in AXT in the fourth quarter worth approximately $54,000. Finally, Jane Street Group LLC bought a new position in AXT in the fourth quarter worth approximately $60,000. Institutional investors 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.