AXT (NASDAQ:AXTI) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday, September 12th.
Other equities research analysts also recently issued research reports about the company. Dougherty & Co restated a “buy” rating on shares of AXT in a research report on Wednesday, August 1st. Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. TheStreet upgraded AXT from a “c+” rating to a “b-” rating in a research report on Tuesday, June 5th. ValuEngine upgraded AXT from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. Finally, B. Riley upped 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. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. AXT presently has a consensus rating of “Hold” and a consensus target price of $10.17.
Shares of AXTI stock traded down $0.19 on Wednesday, reaching $6.50. 541,720 shares of the stock were exchanged, compared to its average volume of 430,636. The company has a market cap of $282.50 million, a P/E ratio of 25.00, a PEG ratio of 1.33 and a beta of 1.09. AXT has a one year low of $5.80 and a one year high of $10.75.
AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. On average, analysts predict that AXT will post 0.36 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC increased its holdings in AXT by 31.7% in the second quarter. Foundry Partners LLC now owns 467,225 shares of the semiconductor company’s stock valued at $3,294,000 after purchasing an additional 112,400 shares during the last quarter. Systematic Financial Management LP increased its holdings in AXT by 8.0% in the first quarter. Systematic Financial Management LP now owns 895,464 shares of the semiconductor company’s stock valued at $6,492,000 after purchasing an additional 66,335 shares during the last quarter. Ariel Investments LLC increased its holdings in AXT by 7.6% in the second 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. Wells Fargo & Company MN increased its holdings in AXT by 9.2% in the first quarter. Wells Fargo & Company MN now owns 395,698 shares of the semiconductor company’s stock valued at $2,869,000 after purchasing an additional 33,191 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of AXT in the second quarter worth about $141,000. Institutional investors and hedge funds own 55.08% 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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