AXT (NASDAQ:AXTI) Upgraded to Buy by BidaskClub

Share on StockTwits

AXT (NASDAQ:AXTI) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, June 7th.

Several other equities research analysts have also recently weighed in on AXTI. B. Riley dropped their target price on AXT from $8.75 to $8.25 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Dougherty & Co restated a “buy” rating on shares of AXT in a report on Thursday, February 22nd. BWS Financial restated a “buy” rating on shares of AXT in a report on Tuesday, April 17th. Zacks Investment Research cut AXT from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. Finally, TheStreet cut AXT from a “b” rating to a “c+” rating in a report on Wednesday, April 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $10.44.

AXT opened at $7.35 on Thursday, according to Marketbeat. AXT has a 12-month low of $5.80 and a 12-month high of $10.75. The stock has a market capitalization of $293.82 million, a PE ratio of 28.27, a PEG ratio of 1.17 and a beta of 1.17.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, April 25th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. AXT had a return on equity of 6.84% and a net margin of 12.06%. The firm had revenue of $24.40 million during the quarter, compared to analysts’ expectations of $24.24 million. During the same period in the prior year, the business earned $0.02 EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. research analysts anticipate that AXT will post 0.36 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in AXT by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,273,255 shares of the semiconductor company’s stock valued at $23,731,000 after purchasing an additional 82,133 shares during the last quarter. Hood River Capital Management LLC raised its position in AXT by 1.9% during the 1st quarter. Hood River Capital Management LLC now owns 1,419,671 shares of the semiconductor company’s stock valued at $10,293,000 after purchasing an additional 25,854 shares during the last quarter. Royce & Associates LP raised its position in AXT by 16.9% during the 4th quarter. Royce & Associates LP now owns 1,076,809 shares of the semiconductor company’s stock valued at $9,368,000 after purchasing an additional 155,500 shares during the last quarter. Systematic Financial Management LP raised its position in AXT by 8.0% during the 1st 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. Finally, Wells Fargo & Company MN raised its position in AXT by 9.2% during the 1st 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. 52.94% of the stock is owned by institutional investors and hedge funds.

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.

Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply