AXT (AXTI) Rating Lowered to Sell at Zacks Investment Research

AXT (NASDAQ:AXTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “

Several other equities research analysts also recently commented on AXTI. BidaskClub downgraded AXT from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine raised AXT from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. B. Riley increased their price objective on AXT from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 20th. Finally, Dougherty & Co reissued a “buy” rating on shares of AXT in a report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $10.17.

NASDAQ AXTI opened at $6.30 on Thursday. The company has a market capitalization of $261.17 million, a PE ratio of 24.15, a P/E/G ratio of 1.23 and a beta of 1.08. AXT has a 12 month low of $5.80 and a 12 month high of $10.75.

AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $27.12 million during the quarter, compared to the consensus estimate of $26.10 million. AXT had a return on equity of 7.72% and a net margin of 13.51%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. Analysts forecast that AXT will post 0.36 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its holdings in AXT by 15.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,874 shares of the semiconductor company’s stock valued at $606,000 after purchasing an additional 11,200 shares during the last quarter. Essex Investment Management Co. LLC lifted its holdings in AXT by 4.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 316,672 shares of the semiconductor company’s stock valued at $2,264,000 after purchasing an additional 12,864 shares during the last quarter. MetLife Investment Advisors LLC lifted its holdings in AXT by 220.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 13,069 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in AXT during the 2nd quarter valued at $112,000. Finally, Ariel Investments LLC lifted its holdings in AXT by 7.6% during the 2nd quarter. Ariel Investments LLC now owns 283,741 shares of the semiconductor company’s stock valued at $2,000,000 after purchasing an additional 20,018 shares during the last quarter. 55.11% of the stock is owned by institutional investors and hedge funds.

About AXT

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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