AXT Inc (NASDAQ:AXTI) had its price target lifted by equities research analysts at BWS Financial from $10.00 to $12.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. BWS Financial’s target price suggests a potential upside of 38.73% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Dougherty & Co reiterated a “buy” rating on shares of AXT in a research note on Saturday, June 17th. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Tuesday, May 23rd. Needham & Company LLC lifted their price target on shares of AXT from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. BidaskClub upgraded shares of AXT from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, B. Riley reiterated a “neutral” rating and issued a $8.50 price target on shares of AXT in a research note on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. AXT presently has an average rating of “Buy” and an average price target of $9.04.
Shares of AXT (NASDAQ AXTI) traded down 1.70% during midday trading on Thursday, reaching $8.65. 770,658 shares of the company were exchanged. The company has a market capitalization of $331.34 million, a P/E ratio of 43.25 and a beta of 1.01. AXT has a 52-week low of $3.62 and a 52-week high of $8.90. The stock has a 50-day moving average price of $6.90 and a 200 day moving average price of $6.54.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. AXT had a net margin of 8.15% and a return on equity of 4.80%. The firm had revenue of $23.56 million for the quarter, compared to analyst estimates of $22.55 million. During the same period in the previous year, the business earned $0.03 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts expect that AXT will post $0.24 EPS for the current fiscal year.
In other news, Director Leonard J. Leblanc sold 5,000 shares of AXT stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $7.27, for a total value of $36,350.00. Following the completion of the transaction, the director now owns 149,134 shares of the company’s stock, valued at approximately $1,084,204.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert G. Ochrym sold 7,500 shares of AXT stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $6.93, for a total transaction of $51,975.00. Following the completion of the transaction, the vice president now directly owns 39,000 shares of the company’s stock, valued at approximately $270,270. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Alambic Investment Management L.P. increased its position in shares of AXT by 86.9% in the first quarter. Alambic Investment Management L.P. now owns 143,811 shares of the semiconductor company’s stock worth $834,000 after buying an additional 66,879 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of AXT during the first quarter worth approximately $173,000. Royce & Associates LP increased its position in shares of AXT by 16.0% in the first quarter. Royce & Associates LP now owns 809,743 shares of the semiconductor company’s stock worth $4,697,000 after buying an additional 111,886 shares during the period. Kennedy Capital Management Inc. purchased a new position in shares of AXT during the first quarter worth approximately $6,084,000. Finally, Wells Fargo & Company MN increased its position in shares of AXT by 34.2% in the first quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 91,945 shares during the period. 54.32% of the stock is owned by institutional investors.
About AXT
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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