AXT Inc (NASDAQ:AXTI) had its price target hoisted by B. Riley from $8.50 to $8.75 in a research note released on Thursday. The firm currently has a neutral rating on the semiconductor company’s stock.
A number of other equities analysts also recently commented on the company. BidaskClub upgraded AXT from a buy rating to a strong-buy rating in a research report on Tuesday, August 1st. BWS Financial lifted their price objective on AXT from $10.00 to $12.00 and gave the stock a buy rating in a research report on Thursday, July 27th. Needham & Company LLC reiterated a buy rating and set a $10.00 price objective on shares of AXT in a research report on Sunday, September 17th. Finally, Zacks Investment Research upgraded AXT from a hold rating to a buy rating and set a $9.75 price objective on the stock in a research report on Friday, July 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $9.95.
AXT (AXTI) traded down 3.68% during mid-day trading on Thursday, reaching $9.15. The company had a trading volume of 284,606 shares. AXT has a 52 week low of $4.35 and a 52 week high of $9.70. The stock has a 50 day moving average of $8.94 and a 200 day moving average of $7.53. The stock has a market capitalization of $351.15 million, a price-to-earnings ratio of 45.75 and a beta of 1.16.
AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. AXT had a return on equity of 5.84% and a net margin of 9.96%. The firm had revenue of $28.17 million for the quarter, compared to the consensus estimate of $27.05 million. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 28.8% compared to the same quarter last year. Analysts anticipate that AXT will post $0.26 earnings per share for the current year.
In related news, Director David C. Chang sold 9,000 shares of AXT stock in a transaction that occurred on Tuesday, August 1st. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.90% of the company’s stock.
A number of large investors have recently bought and sold shares of AXTI. Bank of New York Mellon Corp raised its position in AXT by 314.4% in 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 purchasing an additional 112,818 shares during the period. Ameriprise Financial Inc. purchased a new stake in AXT in the first quarter valued at $1,054,000. SG Americas Securities LLC purchased a new stake in AXT in the first quarter valued at $105,000. Vanguard Group Inc. raised its position in AXT by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,457,029 shares of the semiconductor company’s stock valued at $8,450,000 after purchasing an additional 36,065 shares during the period. Finally, Geode Capital Management LLC raised its position in AXT by 12.1% in the first quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock valued at $1,252,000 after purchasing an additional 23,341 shares during the period. Institutional investors own 60.91% 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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