AXT Inc (AXTI) Receives $6.25 Average Target Price from Analysts

AXT Inc (NASDAQ:AXTI) has earned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.25.

Several equities research analysts have weighed in on the company. B. Riley lowered their price target on AXT to $6.25 and set a “buy” rating for the company in a report on Tuesday, January 15th. Zacks Investment Research raised AXT from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, ValuEngine raised AXT from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Apis Capital Advisors LLC acquired a new stake in AXT in the first quarter worth about $312,000. Systematic Financial Management LP boosted its holdings in AXT by 8.3% in the first quarter. Systematic Financial Management LP now owns 1,380,505 shares of the semiconductor company’s stock worth $6,143,000 after acquiring an additional 105,778 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in AXT in the first quarter worth about $251,000. BNP Paribas Arbitrage SA boosted its holdings in AXT by 507.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 6,625 shares in the last quarter. Finally, Brinker Capital Inc. raised its stake in shares of AXT by 299.2% in the first quarter. Brinker Capital Inc. now owns 45,823 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 34,345 shares during the last quarter. 54.91% of the stock is owned by institutional investors and hedge funds.

AXTI stock traded up $0.06 during trading on Friday, reaching $5.58. 904 shares of the company traded hands, compared to its average volume of 332,314. AXT has a 12 month low of $3.70 and a 12 month high of $9.38. The company has a market cap of $229.20 million, a P/E ratio of 23.33, a PEG ratio of 2.87 and a beta of 1.29.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. AXT had a return on equity of 2.98% and a net margin of 5.78%. The company had revenue of $20.20 million for the quarter, compared to the consensus estimate of $20.69 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. On average, sell-side analysts predict that AXT will post 0.13 EPS for the current fiscal year.

AXT Company Profile

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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