Shares of AXT Inc (NASDAQ:AXTI – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $77.80.
A number of research analysts recently commented on the stock. Zacks Research raised shares of AXT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 4th. B. Riley Financial increased their target price on shares of AXT from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Weiss Ratings raised shares of AXT from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. UBS Group set a $90.00 price target on shares of AXT in a report on Friday, July 31st. Finally, Needham & Company LLC raised shares of AXT from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, July 31st.
Read Our Latest Research Report on AXTI
AXT Trading Up 10.4%
Shares of AXT stock opened at $42.91 on Thursday. The stock has a 50-day moving average price of $63.68 and a 200 day moving average price of $64.73. The company has a market cap of $2.81 billion, a P/E ratio of 95.36 and a beta of 2.01. AXT has a 1 year low of $8.44 and a 1 year high of $143.16.
AXT (NASDAQ:AXTI – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The semiconductor company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. The firm had revenue of $73.41 million during the quarter, compared to analyst estimates of $66.00 million. AXT had a return on equity of 5.21% and a net margin of 18.53%. On average, equities analysts forecast that AXT will post 1.11 earnings per share for the current fiscal year.
Insider Transactions at AXT
In related news, Director Leonard Leblanc sold 4,000 shares of AXT stock in a transaction on Monday, August 17th. The stock was sold at an average price of $96.07, for a total transaction of $384,280.00. Following the completion of the sale, the director owned 113,129 shares of the company’s stock, valued at approximately $10,868,303.03. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.97% of the company’s stock.
Institutional Investors Weigh In On AXT
Hedge funds and other institutional investors have recently made changes to their positions in the company. American Capital Advisory LLC bought a new stake in shares of AXT in the 1st quarter valued at approximately $27,000. Reyes Financial Architecture Inc. acquired a new position in AXT in the third quarter worth approximately $42,000. Global Retirement Partners LLC bought a new position in AXT during the second quarter valued at approximately $55,000. Leonteq Securities AG bought a new position in AXT during the first quarter valued at approximately $57,000. Finally, Signaturefd LLC raised its position in AXT by 440.9% during the third quarter. Signaturefd LLC now owns 952 shares of the semiconductor company’s stock valued at $74,000 after acquiring an additional 776 shares in the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.
AXT Company Profile
AXT, Inc develops and manufactures compound semiconductor substrate materials used to make electronic and optoelectronic devices. Its products include indium phosphide, gallium arsenide and germanium substrates, supplied in wafer form for use by semiconductor manufacturers.
These materials support applications such as fiber-optic and data communications, wireless devices, lasers, LEDs and solar cells. AXT also provides substrate processing services, including wafer polishing and finishing.
Founded in 1986 and headquartered in Fremont, California, AXT serves customers around the world.
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