Other equities research analysts also recently issued reports about the company. B. Riley dropped their target price on AXT from $9.50 to $8.00 in a report on Friday, April 29th. Needham & Company LLC started coverage on AXT in a report on Monday, June 27th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Northland Securities lowered their target price on AXT from $15.00 to $12.00 in a research note on Friday, April 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.25.
AXT Stock Up 0.7 %
Shares of AXT stock opened at $6.78 on Wednesday. The business’s fifty day simple moving average is $5.83 and its 200-day simple moving average is $6.64. The firm has a market cap of $291.20 million, a PE ratio of 20.55 and a beta of 1.97. AXT has a 52 week low of $4.97 and a 52 week high of $10.52.
AXT (NASDAQ:AXTI – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. AXT had a return on equity of 6.41% and a net margin of 9.83%. The firm had revenue of $39.65 million for the quarter, compared to analysts’ expectations of $39.17 million. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, equities analysts expect that AXT will post 0.37 earnings per share for the current year.
Institutional Trading of AXT
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in AXT in the 1st quarter valued at about $34,000. Clearstead Advisors LLC bought a new position in AXT during the 1st quarter worth approximately $35,000. Janney Montgomery Scott LLC acquired a new stake in AXT during the 4th quarter worth about $95,000. KBC Group NV acquired a new stake in AXT during the fourth quarter worth approximately $99,000. Finally, ARS Wealth Advisors Group LLC acquired a new stake in shares of AXT in the 4th quarter valued at about $124,000. 53.51% of the stock is owned by institutional investors.
AXT Company Profile
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.
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