AXT (NASDAQ:AXTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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 research firms have also commented on AXTI. B. Riley upped their target price on AXT from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 20th. ValuEngine raised AXT from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a report on Wednesday, August 1st. Finally, BidaskClub lowered AXT from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. AXT has an average rating of “Hold” and an average price target of $9.00.
NASDAQ:AXTI opened at $5.89 on Thursday. The company has a market cap of $252.08 million, a PE ratio of 22.65, a P/E/G ratio of 1.19 and a beta of 1.08. AXT has a 52 week low of $5.27 and a 52 week high of $10.75.
AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $28.63 million during the quarter, compared to analyst estimates of $28.14 million. AXT had a return on equity of 7.72% and a net margin of 13.51%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts predict that AXT will post 0.36 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of AXTI. Systematic Financial Management LP boosted its position in shares of AXT by 27.6% during the second quarter. Systematic Financial Management LP now owns 1,142,463 shares of the semiconductor company’s stock worth $8,054,000 after buying an additional 246,999 shares during the period. Royce & Associates LP boosted its position in shares of AXT by 14.2% during the second quarter. Royce & Associates LP now owns 1,679,684 shares of the semiconductor company’s stock worth $11,842,000 after buying an additional 209,075 shares during the period. Foundry Partners LLC boosted its position in shares of AXT by 37.3% during the third quarter. Foundry Partners LLC now owns 641,385 shares of the semiconductor company’s stock worth $4,586,000 after buying an additional 174,160 shares during the period. BlackRock Inc. lifted its position in AXT by 7.0% in the second quarter. BlackRock Inc. now owns 2,653,369 shares of the semiconductor company’s stock worth $18,706,000 after purchasing an additional 172,795 shares during the period. Finally, Hood River Capital Management LLC lifted its position in AXT by 10.9% in the second quarter. Hood River Capital Management LLC now owns 1,574,835 shares of the semiconductor company’s stock worth $11,103,000 after purchasing an additional 155,164 shares during the period. Institutional investors and hedge funds own 55.65% of the company’s stock.
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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