B. Riley upgraded shares of AXT (NASDAQ:AXTI) from a neutral rating to a buy rating in a report published on Tuesday morning, Marketbeat reports. B. Riley currently has $9.00 price target on the semiconductor company’s stock, up from their prior price target of $8.25. B. Riley also issued estimates for AXT’s Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.09 EPS, Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.31 EPS, Q1 2019 earnings at $0.09 EPS, Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.12 EPS and FY2019 earnings at $0.45 EPS.
A number of other research analysts have also commented on AXTI. BidaskClub lowered AXT from a buy rating to a hold rating in a report on Wednesday, April 11th. Zacks Investment Research raised AXT from a hold rating to a buy rating and set a $9.75 target price for the company in a research note on Wednesday, December 27th. Finally, Dougherty & Co reaffirmed a buy rating on shares of AXT in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. AXT currently has a consensus rating of Buy and a consensus target price of $10.44.
Shares of AXTI opened at $6.45 on Tuesday. The firm has a market cap of $256.35, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. AXT has a one year low of $5.95 and a one year high of $10.75.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $26.33 million for the quarter, compared to analyst estimates of $26.72 million. AXT had a return on equity of 5.81% and a net margin of 10.28%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. sell-side analysts predict that AXT will post 0.33 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Capital Fund Management S.A. bought a new position in AXT during the fourth quarter valued at about $126,000. MetLife Investment Advisors LLC bought a new position in AXT during the fourth quarter valued at about $166,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in AXT by 94.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 10,451 shares in the last quarter. JPMorgan Chase & Co. bought a new position in AXT during the third quarter valued at about $203,000. Finally, FNY Partners Fund LP bought a new position in AXT during the fourth quarter valued at about $197,000. 56.12% of the stock is owned by institutional investors and hedge funds.
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AXT Company Profile
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures 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, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.
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