Brokerages Set AXT Inc. (NASDAQ:AXTI) Target Price at $5.81
Shares of AXT Inc. (NASDAQ:AXTI) have received a consensus recommendation of “Buy” from the six analysts that are currently covering the company. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.81.
AXTI has been the topic of a number of research reports. Northland Securities raised their price target on AXT from $4.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, September 29th. Zacks Investment Research upgraded AXT from a “hold” rating to a “strong-buy” rating and set a $4.50 price target on the stock in a research note on Tuesday, August 23rd. Needham & Company LLC upgraded AXT from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research note on Thursday, July 28th. Finally, B. Riley restated a “buy” rating and issued a $6.25 price target on shares of AXT in a research note on Wednesday.
AXT (NASDAQ:AXTI) opened at 5.70 on Monday. The company’s market capitalization is $182.63 million. AXT has a 52 week low of $2.05 and a 52 week high of $5.70. The firm has a 50-day moving average price of $4.58 and a 200-day moving average price of $3.54.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $20.50 million for the quarter, compared to the consensus estimate of $19.97 million. AXT had a negative return on equity of 0.01% and a negative net margin of 0.01%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts anticipate that AXT will post $0.13 EPS for the current fiscal year.
In related news, VP Robert G. Ochrym sold 26,577 shares of AXT stock in a transaction on Monday, August 29th. The stock was sold at an average price of $4.39, for a total transaction of $116,673.03. Following the transaction, the vice president now directly owns 55,577 shares in the company, valued at $243,983.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.29% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AXTI. A.R.T. Advisors LLC bought a new position in AXT during the second quarter valued at $101,000. Coe Capital Management LLC bought a new position in AXT during the second quarter valued at $391,000. Vanguard Group Inc. increased its position in AXT by 1.5% in the second quarter. Vanguard Group Inc. now owns 1,420,128 shares of the company’s stock valued at $4,530,000 after buying an additional 21,488 shares during the period. Dimensional Fund Advisors LP increased its position in AXT by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,885,895 shares of the company’s stock valued at $6,016,000 after buying an additional 44,701 shares during the period. Finally, EAM Investors LLC bought a new position in AXT during the second quarter valued at $1,289,000. Institutional investors own 42.35% of the company’s stock.
AXT Company Profile
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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