Zacks Investment Research downgraded shares of AXT (NASDAQ:AXTI) from a hold rating to a sell rating in a research note published 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 have also commented on AXTI. ValuEngine lowered shares of AXT from a sell rating to a strong sell rating in a research report on Thursday, November 1st. B. Riley reduced their price target on shares of AXT from $10.00 to $8.50 and set a buy rating on the stock in a report on Thursday, November 1st. Finally, BidaskClub raised shares of AXT from a sell rating to a hold rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $9.00.
AXTI stock opened at $5.03 on Thursday. The stock has a market cap of $198.88 million, a P/E ratio of 19.35, a P/E/G ratio of 1.00 and a beta of 1.14. AXT has a 52 week low of $5.01 and a 52 week high of $9.45.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $28.63 million for the quarter, compared to analyst estimates of $28.14 million. AXT had a return on equity of 7.32% and a net margin of 13.00%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, analysts forecast that AXT will post 0.34 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC lifted its position in shares of AXT by 220.7% in the second quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock valued at $134,000 after acquiring an additional 13,069 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of AXT by 804.2% during the 2nd quarter. Bank of America Corp DE now owns 31,746 shares of the semiconductor company’s stock worth $223,000 after acquiring an additional 28,235 shares during the period. PEAK6 Investments LLC purchased a new position in shares of AXT during the 3rd quarter worth about $292,000. First Trust Advisors LP purchased a new position in AXT during the third quarter worth approximately $382,000. Finally, Schwab Charles Investment Management Inc. raised its stake in AXT by 15.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 85,874 shares of the semiconductor company’s stock worth $606,000 after purchasing an additional 11,200 shares during the period. 54.36% of the stock is currently owned by hedge funds and other institutional investors.
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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