AXT (NASDAQ:AXTI) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of AXT (NASDAQ:AXTI) in a research note issued to investors on Friday morning,RTT News reports. Wedbush currently has a $5.50 target price on the semiconductor company’s stock.

Several other analysts have also recently weighed in on AXTI. Northland Securities reduced their price objective on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of AXT in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.20.

AXT Price Performance

Shares of NASDAQ AXTI opened at $2.10 on Friday. AXT has a 1 year low of $1.73 and a 1 year high of $5.64. The firm has a market cap of $93.98 million, a PE ratio of -8.40 and a beta of 2.08. The company has a 50 day simple moving average of $2.19 and a 200 day simple moving average of $2.38.

Institutional Trading of AXT

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of AXT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock valued at $1,123,000 after purchasing an additional 7,577 shares during the period. Barclays PLC acquired a new position in AXT in the third quarter valued at approximately $85,000. Cubist Systematic Strategies LLC bought a new position in shares of AXT during the 2nd quarter worth approximately $468,000. Creative Planning acquired a new stake in shares of AXT during the 3rd quarter worth approximately $127,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of AXT by 26.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after acquiring an additional 13,376 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.