AXT, Inc. (NASDAQ:AXTI) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.87.
Several research analysts recently weighed in on the stock. BWS Financial upped their price target on shares of AXT from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 17th. Zacks Investment Research downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 29th. Craig Hallum increased their price objective on shares of AXT from $7.50 to $12.00 in a report on Tuesday, November 17th. BidaskClub downgraded shares of AXT from a “buy” rating to a “hold” rating in a report on Saturday, December 12th. Finally, B. Riley downgraded shares of AXT from a “buy” rating to a “neutral” rating and set a $6.60 price objective for the company. in a report on Tuesday, October 6th. They noted that the move was a valuation call.
In other news, CEO Morris S. Young sold 37,000 shares of the stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $9.76, for a total value of $361,120.00. Following the completion of the sale, the chief executive officer now owns 1,834,089 shares of the company’s stock, valued at approximately $17,900,708.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Morris S. Young sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $7.35, for a total transaction of $147,000.00. In the last quarter, insiders sold 104,000 shares of company stock valued at $844,920. 8.10% of the stock is owned by insiders.
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Institutional investors have recently bought and sold shares of the company. Formidable Asset Management LLC purchased a new position in AXT during the 3rd quarter worth $113,000. Mercer Global Advisors Inc. ADV purchased a new stake in AXT during the third quarter valued at about $154,000. Brinker Capital Investments LLC purchased a new stake in AXT during the third quarter valued at about $152,000. Kathmere Capital Management LLC purchased a new stake in AXT during the third quarter valued at about $113,000. Finally, Millrace Asset Group Inc. lifted its stake in AXT by 45.2% during the third quarter. Millrace Asset Group Inc. now owns 416,734 shares of the semiconductor company’s stock valued at $2,550,000 after buying an additional 129,733 shares in the last quarter. 56.30% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:AXTI opened at $10.12 on Wednesday. The firm has a 50 day moving average of $9.76 and a 200 day moving average of $6.49. AXT has a 52 week low of $1.85 and a 52 week high of $11.65. The company has a market capitalization of $417.96 million, a price-to-earnings ratio of -337.22 and a beta of 2.30.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $25.47 million for the quarter, compared to analyst estimates of $24.13 million. AXT had a negative net margin of 1.01% and a negative return on equity of 0.46%. As a group, equities analysts anticipate that AXT will post 0.05 earnings per share for the current fiscal year.
AXT Company Profile
AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces 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, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging, as well as for 5G.
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Every trading day, between 500 and 800 new recommendations and research reports are issued by sell-side equities research analysts. There are between 300 and 500 brokerages and research houses that issue ratings, price targets and recommendations and more than 5,000 securities around the world that regularly receive coverage from research analysts.
MarketBeat has tracked more than 170,000 distinct analyst recommendations in the last 12 months alone. Given the volume of ratings changes that occur each day, it can be difficult to sift through the noise.
Analysts don’t always get their “buy” ratings right, but it’s worth taking a hard look when more than a dozen different analysts from different brokerages and research firm are giving “strong buy” and “buy” ratings to the same stock.
This slide show lists the 20 companies that have the highest average analyst recommendations from Wall Street’s equities research analysts over the last 12 months.
