AXT Inc. (NASDAQ:AXTI)’s share price was up 4.6% during mid-day trading on Wednesday . The company traded as high as $5.08 and last traded at $5.00, with a volume of 591,300 shares traded. The stock had previously closed at $4.78.
A number of equities analysts have issued reports on AXTI shares. TheStreet upgraded AXT from a “hold” rating to a “buy” rating in a report on Wednesday, May 25th. Zacks Investment Research upgraded AXT from a “hold” rating to a “strong-buy” rating and set a $4.50 price target on the stock in a report on Tuesday, August 23rd. Needham & Company LLC upgraded AXT from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a report on Thursday, July 28th. Finally, B. Riley reiterated a “buy” rating and issued a $4.80 target price on shares of AXT in a report on Tuesday, August 2nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $4.93.
The stock has a 50-day moving average price of $4.18 and a 200 day moving average price of $3.35. The stock’s market cap is $160.20 million.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $19.97 million. AXT had a negative return on equity of 0.01% and a negative net margin of 0.01%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts predict that AXT Inc. will post $0.13 earnings per share for the current year.
In other AXT news, VP Robert G. Ochrym sold 26,577 shares of AXT stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $4.39, for a total value of $116,673.03. Following the transaction, the vice president now directly owns 55,577 shares of the company’s stock, valued at approximately $243,983.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.29% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in AXTI. A.R.T. Advisors LLC bought a new position in shares of AXT during the second quarter worth approximately $101,000. Acadian Asset Management LLC bought a new position in shares of AXT during the second quarter worth approximately $158,000. Bank of New York Mellon Corp boosted its position in shares of AXT by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 65,472 shares of the company’s stock worth $209,000 after buying an additional 805 shares during the period. Coe Capital Management LLC bought a new position in shares of AXT during the second quarter worth approximately $391,000. Finally, ClariVest Asset Management LLC bought a new position in shares of AXT during the second quarter worth approximately $822,000. 42.35% of the stock is currently owned by institutional investors and hedge funds.
AXT Company Profile
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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