AXT (AXTI) Shares Down 5.6%

AXT Inc (NASDAQ:AXTI) shares were down 5.6% during mid-day trading on Monday . The company traded as low as $6.40 and last traded at $6.80. Approximately 724,052 shares traded hands during trading, an increase of 70% from the average daily volume of 426,292 shares. The stock had previously closed at $7.20.

A number of analysts recently commented on AXTI shares. Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a report on Wednesday, December 27th. B. Riley decreased their price objective on shares of AXT from $8.75 to $8.25 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th. Finally, Dougherty & Co reissued a “buy” rating on shares of AXT in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $10.25.

The firm has a market capitalization of $283.77, a P/E ratio of 26.15, a PEG ratio of 1.16 and a beta of 1.06.

AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $26.33 million for the quarter, compared to the consensus estimate of $26.72 million. AXT had a net margin of 10.28% and a return on equity of 5.81%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. research analysts expect that AXT Inc will post 0.35 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in AXTI. Schwab Charles Investment Management Inc. lifted its holdings in shares of AXT by 10.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 74,674 shares of the semiconductor company’s stock valued at $650,000 after purchasing an additional 7,174 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of AXT by 94.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock valued at $197,000 after purchasing an additional 10,451 shares in the last quarter. KBC Group NV lifted its holdings in shares of AXT by 15.0% in the fourth quarter. KBC Group NV now owns 97,026 shares of the semiconductor company’s stock valued at $844,000 after purchasing an additional 12,684 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of AXT in the fourth quarter valued at about $126,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of AXT in the fourth quarter valued at about $166,000. 56.12% of the stock is currently owned by hedge funds and other institutional investors.

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AXT Company Profile

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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