Zacks Investment Research upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a report released on Wednesday morning.
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. “
Several other analysts have also weighed in on AXTI. ValuEngine raised shares of AXT from a hold rating to a buy rating in a report on Wednesday, July 11th. B. Riley raised their price objective on shares of AXT from $9.00 to $10.00 and gave the stock a buy rating in a report on Friday, July 20th. BidaskClub lowered shares of AXT from a hold rating to a sell rating in a report on Wednesday, August 1st. Finally, Dougherty & Co reaffirmed a buy rating on shares of AXT in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $9.00.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $28.63 million during the quarter, compared to analyst estimates of $28.14 million. AXT had a net margin of 13.00% and a return on equity of 7.34%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. Research analysts expect that AXT will post 0.34 earnings per share for the current year.
Several institutional investors have recently modified their holdings of AXTI. Campbell & CO Investment Adviser LLC acquired a new stake in shares of AXT in the second quarter valued at approximately $112,000. MetLife Investment Advisors LLC increased its holdings in shares of AXT by 220.7% in the second quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 13,069 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of AXT in the second quarter valued at approximately $141,000. Bank of America Corp DE increased its holdings in shares of AXT by 804.2% in the second quarter. Bank of America Corp DE now owns 31,746 shares of the semiconductor company’s stock valued at $223,000 after purchasing an additional 28,235 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of AXT in the third quarter valued at approximately $382,000. 55.79% of the stock is owned by institutional investors and hedge funds.
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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