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. “
Several other equities research analysts have also weighed in on the company. BidaskClub lowered AXT from a “buy” rating to a “hold” rating in a research report on Saturday, December 12th. ValuEngine lowered AXT from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. B. Riley lowered AXT from a “buy” rating to a “neutral” rating and set a $6.60 price target on the stock. in a research report on Tuesday, October 6th. They noted that the move was a valuation call. Craig Hallum lifted their price target on AXT from $7.50 to $12.00 in a research report on Tuesday, November 17th. Finally, BWS Financial lifted their price target on AXT from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.84.
Shares of NASDAQ AXTI traded down $0.48 during midday trading on Tuesday, hitting $9.30. 514,646 shares of the company’s stock were exchanged, compared to its average volume of 498,447. AXT has a twelve month low of $1.85 and a twelve month high of $11.65. The company has a market cap of $384.09 million, a PE ratio of -309.90 and a beta of 2.30. The firm’s fifty day simple moving average is $9.38 and its 200-day simple moving average is $6.31.
AXT (NASDAQ:AXTI) last issued its earnings results on Monday, November 2nd. The semiconductor company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. AXT had a negative return on equity of 0.46% and a negative net margin of 1.01%. The business had revenue of $25.47 million for the quarter, compared to analyst estimates of $24.13 million. On average, analysts anticipate that AXT will post 0.05 EPS for the current fiscal year.
In other AXT news, CFO Gary L. Fischer sold 10,000 shares of AXT stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $7.04, for a total value of $70,400.00. Following the transaction, the chief financial officer now directly owns 340,495 shares in the company, valued at approximately $2,397,084.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Morris S. Young sold 5,000 shares of AXT stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $6.00, for a total value of $30,000.00. Insiders sold a total of 148,870 shares of company stock worth $1,136,668 over the last quarter. Company insiders own 8.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of AXTI. Jane Street Group LLC purchased a new stake in shares of AXT in the second quarter valued at approximately $49,000. BNP Paribas Arbitrage SA boosted its stake in shares of AXT by 234.5% in the third quarter. BNP Paribas Arbitrage SA now owns 9,417 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 6,602 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of AXT in the third quarter valued at approximately $78,000. JPMorgan Chase & Co. boosted its stake in shares of AXT by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 14,558 shares of the semiconductor company’s stock valued at $86,000 after buying an additional 1,378 shares in the last quarter. Finally, Kathmere Capital Management LLC purchased a new stake in shares of AXT in the third quarter valued at approximately $113,000. Hedge funds and other institutional investors own 56.30% of the company’s stock.
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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