AXT Inc (AXTI) Stock Rating Reaffirmed by Needham & Company LLC
AXT Inc (NASDAQ:AXTI)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Sunday. They presently have a $10.00 target price on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 12.99% from the stock’s current price.
A number of other research firms have also recently weighed in on AXTI. B. Riley reissued a “neutral” rating and issued a $8.50 price objective on shares of AXT in a research report on Tuesday, August 1st. BidaskClub raised shares of AXT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Friday, July 28th. Finally, BWS Financial upped their price objective on shares of AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. AXT has a consensus rating of “Buy” and a consensus target price of $9.21.
Shares of AXT (NASDAQ:AXTI) opened at 8.85 on Friday. The firm’s 50-day moving average price is $7.92 and its 200-day moving average price is $6.93. The stock has a market capitalization of $339.64 million, a P/E ratio of 44.25 and a beta of 1.13. AXT has a one year low of $4.35 and a one year high of $9.50.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $23.56 million during the quarter, compared to analysts’ expectations of $22.55 million. AXT had a net margin of 7.63% and a return on equity of 4.59%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. Equities research analysts anticipate that AXT will post $0.24 EPS for the current fiscal year.
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In related news, Director David C. Chang sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $8.80, for a total transaction of $79,200.00. Following the transaction, the director now owns 164,807 shares in the company, valued at $1,450,301.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Morris S. Young sold 92,896 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.54, for a total transaction of $793,331.84. Following the transaction, the chief executive officer now owns 1,213,200 shares in the company, valued at approximately $10,360,728. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AXTI. Wells Fargo & Company MN increased its stake in shares of AXT by 34.2% during the first quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock valued at $2,092,000 after acquiring an additional 91,945 shares during the period. Bank of New York Mellon Corp increased its stake in shares of AXT by 314.4% during the first quarter. Bank of New York Mellon Corp now owns 148,703 shares of the semiconductor company’s stock valued at $862,000 after acquiring an additional 112,818 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of AXT during the first quarter valued at approximately $1,054,000. Alambic Investment Management L.P. increased its stake in shares of AXT by 86.9% during the first quarter. Alambic Investment Management L.P. now owns 143,811 shares of the semiconductor company’s stock valued at $834,000 after acquiring an additional 66,879 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new position in shares of AXT during the first quarter valued at approximately $493,000. Institutional investors and hedge funds own 61.87% of the company’s stock.
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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