BidaskClub Upgrades AXT (AXTI) to “Hold”

BidaskClub upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a report published on Thursday.

A number of other analysts also recently weighed in on AXTI. Zacks Investment Research downgraded shares of AXT from a hold rating to a sell rating in a research report on Thursday, October 18th. ValuEngine downgraded shares of AXT from a buy rating to a hold rating in a research report on Wednesday, July 25th. Dougherty & Co reiterated a buy rating on shares of AXT in a research report on Wednesday, August 1st. Finally, B. Riley raised their target price on shares of AXT from $9.00 to $10.00 and gave the stock a buy rating in a report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. AXT presently has a consensus rating of Hold and an average target price of $9.00.

Shares of NASDAQ:AXTI traded up $0.50 during mid-day trading on Thursday, reaching $5.89. The stock had a trading volume of 1,129,333 shares, compared to its average volume of 449,898. The company has a market capitalization of $232.72 million, a price-to-earnings ratio of 16.83, a P/E/G ratio of 1.13 and a beta of 1.18. AXT has a twelve month low of $5.27 and a twelve month high of $10.75.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $28.63 million for the quarter, compared to the consensus estimate of $28.14 million. AXT had a net margin of 13.00% and a return on equity of 7.34%. AXT’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company posted $0.11 EPS. On average, equities analysts anticipate that AXT will post 0.35 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its holdings in AXT by 15.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,874 shares of the semiconductor company’s stock worth $606,000 after buying an additional 11,200 shares during the period. Essex Investment Management Co. LLC raised its holdings in AXT by 4.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 316,672 shares of the semiconductor company’s stock worth $2,264,000 after buying an additional 12,864 shares during the period. MetLife Investment Advisors LLC raised its holdings in AXT by 220.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after buying an additional 13,069 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in AXT during the 2nd quarter worth approximately $112,000. Finally, Ariel Investments LLC raised its holdings in AXT by 7.6% during the 2nd quarter. Ariel Investments LLC now owns 283,741 shares of the semiconductor company’s stock worth $2,000,000 after buying an additional 20,018 shares during the period. Hedge funds and other institutional investors own 55.65% of the company’s stock.

About AXT

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.

See Also: Bear Market – How and Why They Occur

Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply