AXT (NASDAQ:AXTI) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of AXT (NASDAQ:AXTI) in a research report report published on Friday morning,RTT News reports. Wedbush currently has a $4.50 price objective on the semiconductor company’s stock, down from their prior price objective of $5.50.

AXTI has been the topic of a number of other reports. Northland Securities reduced their target price 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 restated a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday. Finally, B. Riley reaffirmed a “buy” rating and set a $6.00 price target (up previously from $5.50) on shares of AXT in a research report on Friday. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.10.

AXT Price Performance

AXTI stock opened at $1.58 on Friday. AXT has a 1 year low of $1.56 and a 1 year high of $5.64. The firm has a market capitalization of $70.71 million, a PE ratio of -6.32 and a beta of 2.08. The business has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.29.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08). AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. The company had revenue of $25.11 million during the quarter, compared to analysts’ expectations of $23.94 million. On average, equities research analysts expect that AXT will post -0.22 EPS for the current year.

Institutional Investors Weigh In On AXT

A number of institutional investors have recently made changes to their positions in AXTI. Pacific Ridge Capital Partners LLC boosted its position in shares of AXT by 65.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company’s stock worth $4,204,000 after purchasing an additional 766,122 shares during the period. Point72 Asset Management L.P. acquired a new position in AXT during the fourth quarter worth $628,000. Systematic Financial Management LP boosted its position in shares of AXT by 13.0% during the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock worth $3,575,000 after buying an additional 169,406 shares during the period. Kennedy Capital Management LLC grew its stake in shares of AXT by 13.1% in the fourth quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company’s stock valued at $1,987,000 after buying an additional 106,121 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of AXT by 18.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 606,365 shares of the semiconductor company’s stock valued at $1,316,000 after buying an additional 96,195 shares during the period. 49.52% of the stock is currently owned by institutional investors and hedge funds.

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.