AXT (AXTI) Lifted to “Hold” at Zacks Investment Research

AXT (NASDAQ:AXTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

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. “

AXTI has been the subject of a number of other reports. ValuEngine downgraded shares of AXT from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 11th. B. Riley lowered their price target on shares of AXT to $6.25 and set a “buy” rating for the company in a report on Tuesday, January 15th. BidaskClub upgraded shares of AXT from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, TheStreet downgraded shares of AXT from a “b-” rating to a “c+” rating in a report on Thursday, December 27th. One investment 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’s stock. AXT currently has a consensus rating of “Hold” and a consensus target price of $7.88.

Shares of NASDAQ AXTI traded down $0.03 during midday trading on Monday, reaching $4.02. 77,340 shares of the stock were exchanged, compared to its average volume of 278,394. The company has a market cap of $158.95 million, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.10. AXT has a 52-week low of $3.70 and a 52-week high of $9.38.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of AXT by 13.2% in the fourth quarter. Bank of New York Mellon Corp now owns 196,886 shares of the semiconductor company’s stock worth $856,000 after acquiring an additional 22,968 shares during the last quarter. BlackRock Inc. boosted its position in shares of AXT by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,746,560 shares of the semiconductor company’s stock worth $11,949,000 after acquiring an additional 79,457 shares during the last quarter. First Trust Advisors LP boosted its position in shares of AXT by 18.8% in the fourth quarter. First Trust Advisors LP now owns 63,426 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 10,016 shares during the last quarter. Rhumbline Advisers boosted its position in shares of AXT by 42.5% in the fourth quarter. Rhumbline Advisers now owns 52,855 shares of the semiconductor company’s stock worth $230,000 after acquiring an additional 15,765 shares during the last quarter. Finally, Delta Investment Management LLC acquired a new stake in shares of AXT in the fourth quarter worth approximately $190,000. 54.40% of the stock is currently owned by institutional investors and hedge funds.

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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