AXT Inc (NASDAQ:AXTI)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Sunday. They presently have a $10.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 13.64% from the stock’s current price.
AXTI has been the subject of several other reports. Dougherty & Co reiterated a “buy” rating on shares of AXT in a research report on Saturday, June 17th. B. Riley reaffirmed a “neutral” rating and issued a $8.50 price target on shares of AXT in a research note on Thursday, July 27th. Zacks Investment Research lowered AXT from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. BWS Financial upped their price target on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, BidaskClub raised AXT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $9.21.
Shares of AXT (NASDAQ:AXTI) opened at 8.80 on Friday. The company has a 50-day moving average of $7.91 and a 200 day moving average of $6.92. The stock has a market capitalization of $337.72 million, a price-to-earnings ratio of 44.00 and a beta of 1.13. AXT has a 12-month low of $4.35 and a 12-month high of $9.50.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. The business had revenue of $23.56 million during the quarter, compared to analysts’ expectations of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. Analysts predict that AXT will post $0.24 earnings per share for the current year.
In related news, Director David C. Chang sold 9,000 shares of AXT stock in a transaction 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 completion of the transaction, the director now directly owns 164,807 shares of the company’s stock, valued at $1,450,301.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Morris S. Young sold 92,896 shares of AXT stock in a transaction on Monday, July 31st. The stock was sold at an average price of $8.54, for a total value of $793,331.84. Following the transaction, the chief executive officer now directly owns 1,213,200 shares of the company’s stock, valued at $10,360,728. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AXTI. Voya Investment Management LLC purchased a new position in AXT during the second quarter worth $100,000. Gotham Asset Management LLC purchased a new stake in shares of AXT in the first quarter valued at $101,000. SG Americas Securities LLC purchased a new stake in shares of AXT in the first quarter valued at $105,000. Sanctuary Wealth Advisors LLC purchased a new stake in shares of AXT in the first quarter valued at $116,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of AXT in the first quarter valued at $173,000. 61.87% of the stock is owned by institutional investors.
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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