AXT Inc. (NASDAQ:AXTI) has received an average broker rating score of 1.25 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and three have assigned a strong buy rating to the company. AXT’s rating score has declined by 25% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokerages have set a twelve-month consensus price target of $4.95 for the company and are anticipating that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also assigned AXT an industry rank of 23 out of 265 based on the ratings given to related companies.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised AXT from a “hold” rating to a “strong-buy” rating and set a $4.50 target price for the company in a research note on Tuesday, August 23rd. B. Riley reissued a “buy” rating and issued a $4.80 target price on shares of AXT in a research note on Tuesday, August 2nd. Finally, Needham & Company LLC raised AXT from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Thursday, July 28th.
In related news, VP Robert G. Ochrym sold 26,577 shares of AXT stock in a transaction on Monday, August 29th. The stock was sold at an average price of $4.39, for a total transaction of $116,673.03. Following the completion of the sale, the vice president now directly owns 55,577 shares of the company’s stock, valued at $243,983.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.29% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake 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. Vanguard Group Inc. boosted its stake in shares of AXT by 1.5% in the second quarter. Vanguard Group Inc. now owns 1,420,128 shares of the company’s stock worth $4,530,000 after buying an additional 21,488 shares during the period. Renaissance Technologies LLC boosted its stake in shares of AXT by 5.2% in the first quarter. Renaissance Technologies LLC now owns 481,800 shares of the company’s stock worth $1,190,000 after buying an additional 23,800 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of AXT during the second quarter worth approximately $101,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AXT by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,885,895 shares of the company’s stock worth $6,016,000 after buying an additional 44,701 shares during the period. 42.35% of the stock is owned by institutional investors and hedge funds.
Shares of AXT (NASDAQ:AXTI) traded down 0.21% during mid-day trading on Monday, hitting $4.86. The stock had a trading volume of 74,925 shares. AXT has a 12-month low of $1.90 and a 12-month high of $5.08. The firm’s 50-day moving average price is $4.29 and its 200 day moving average price is $3.39. The stock’s market cap is $155.71 million.
AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, July 27th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company earned $20.50 million during 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. Equities analysts forecast that AXT will post $0.13 EPS for the current fiscal year.
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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