ValuEngine cut shares of AXT (NASDAQ:AXTI) from a hold rating to a sell rating in a report published on Friday morning.
Other equities research analysts also recently issued research reports about the company. TheStreet raised AXT from a c+ rating to a b- rating in a report on Tuesday, June 5th. Dougherty & Co reaffirmed a buy rating on shares of AXT in a report on Wednesday, August 1st. BidaskClub raised AXT from a hold rating to a buy rating in a report on Thursday, June 7th. Zacks Investment Research raised AXT from a hold rating to a buy rating and set a $9.50 price target for the company in a report on Tuesday, July 24th. Finally, B. Riley raised their price target on AXT from $9.00 to $10.00 and gave the company a buy rating in a report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $10.17.
AXT stock traded down $0.10 during mid-day trading on Friday, hitting $7.30. 241,214 shares of the company’s stock traded hands, compared to its average volume of 312,931. AXT has a fifty-two week low of $5.80 and a fifty-two week high of $10.75. The company has a market capitalization of $292.38 million, a price-to-earnings ratio of 28.08, a P/E/G ratio of 1.36 and a beta of 1.05.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. AXT had a return on equity of 7.72% and a net margin of 13.51%. The business had revenue of $27.12 million during the quarter, compared to the consensus estimate of $26.10 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. sell-side analysts expect that AXT will post 0.36 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC bought a new position in AXT during the 2nd quarter worth $112,000. Millrace Asset Group Inc. bought a new position in AXT during the 1st quarter worth $130,000. Victory Capital Management Inc. bought a new position in AXT during the 1st quarter worth $133,000. MetLife Investment Advisors LLC increased its position in AXT by 220.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after buying an additional 13,069 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in AXT during the 2nd quarter worth $141,000. Hedge funds and other institutional investors own 55.21% 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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