Zacks Investment Research upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “
AXTI has been the subject of several other reports. ValuEngine downgraded shares of AXT from a hold rating to a sell rating in a research report on Friday, August 17th. B. Riley decreased their target price on shares of AXT from $10.00 to $8.50 and set a buy rating for the company in a research report on Thursday, November 1st. BidaskClub downgraded shares of AXT from a sell rating to a strong sell rating in a research report on Wednesday, September 12th. Finally, Dougherty & Co reaffirmed a buy rating on shares of AXT in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $9.00.
NASDAQ:AXTI opened at $5.73 on Wednesday. The stock has a market cap of $234.46 million, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. AXT has a one year low of $5.27 and a one year high of $10.75.
AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $28.63 million during the quarter, compared to the consensus estimate of $28.14 million. AXT had a net margin of 13.00% and a return on equity of 7.34%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, research analysts anticipate that AXT will post 0.34 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Foundry Partners LLC grew its position in AXT by 31.7% in the 2nd quarter. Foundry Partners LLC now owns 467,225 shares of the semiconductor company’s stock worth $3,294,000 after purchasing an additional 112,400 shares in the last quarter. Ariel Investments LLC grew its position in AXT by 7.6% in the 2nd quarter. Ariel Investments LLC now owns 283,741 shares of the semiconductor company’s stock worth $2,000,000 after purchasing an additional 20,018 shares in the last quarter. BlackRock Inc. grew its position in AXT by 7.0% in the 2nd quarter. BlackRock Inc. now owns 2,653,369 shares of the semiconductor company’s stock worth $18,706,000 after purchasing an additional 172,795 shares in the last quarter. Essex Investment Management Co. LLC grew its position in AXT by 4.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 316,672 shares of the semiconductor company’s stock worth $2,264,000 after purchasing an additional 12,864 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its position in AXT by 220.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 13,069 shares in the last quarter. 55.79% 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.
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