AXT Inc (NASDAQ:AXTI) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.58.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research lowered shares of AXT from a “buy” rating to a “hold” rating in a report on Monday, January 1st. B. Riley raised their price target on shares of AXT from $8.50 to $8.75 and gave the company a “neutral” rating in a report on Thursday, October 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of AXT in a report on Thursday, October 26th.
In other AXT news, CEO Morris S. Young sold 30,000 shares of AXT stock in a transaction on Monday, November 20th. The shares were sold at an average price of $9.76, for a total transaction of $292,800.00. Following the completion of the sale, the chief executive officer now owns 1,211,970 shares of the company’s stock, valued at approximately $11,828,827.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gary L. Fischer sold 20,000 shares of AXT stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $9.16, for a total transaction of $183,200.00. Following the sale, the chief financial officer now directly owns 84,515 shares of the company’s stock, valued at approximately $774,157.40. The disclosure for this sale can be found here. In the last three months, insiders sold 75,250 shares of company stock valued at $701,735. 6.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in AXT by 7.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,082,666 shares of the semiconductor company’s stock worth $28,206,000 after acquiring an additional 205,384 shares during the period. Vanguard Group Inc. grew its holdings in AXT by 11.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,629,223 shares of the semiconductor company’s stock worth $10,346,000 after acquiring an additional 172,194 shares during the period. Hood River Capital Management LLC grew its holdings in AXT by 7.8% during the 4th quarter. Hood River Capital Management LLC now owns 1,393,817 shares of the semiconductor company’s stock worth $12,126,000 after acquiring an additional 100,889 shares during the period. Royce & Associates LP grew its holdings in AXT by 16.9% during the 4th quarter. Royce & Associates LP now owns 1,076,809 shares of the semiconductor company’s stock worth $9,368,000 after acquiring an additional 155,500 shares during the period. Finally, Systematic Financial Management LP grew its holdings in AXT by 21.4% during the 4th quarter. Systematic Financial Management LP now owns 829,129 shares of the semiconductor company’s stock worth $7,213,000 after acquiring an additional 146,418 shares during the period. 58.93% of the stock is owned by hedge funds and other institutional investors.
Shares of AXT (AXTI) traded up $0.30 during trading on Friday, hitting $8.30. 244,307 shares of the company were exchanged, compared to its average volume of 398,242. The firm has a market capitalization of $313.08, a price-to-earnings ratio of 34.58, a P/E/G ratio of 1.07 and a beta of 1.01. AXT has a fifty-two week low of $5.10 and a fifty-two week high of $10.75.
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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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