AXT (NASDAQ:AXTI) had its price objective raised by equities research analysts at B. Riley from $6.60 to $10.50 in a report issued on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. B. Riley’s target price indicates a potential downside of 13.86% from the stock’s previous close.
Several other equities research analysts also recently commented on AXTI. Craig Hallum lifted their target price on shares of AXT from $7.50 to $12.00 in a research report on Tuesday, November 17th. BWS Financial lifted their target price 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. Finally, Zacks Investment Research downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 29th.
AXTI opened at $12.19 on Friday. The company’s 50 day moving average is $10.94 and its 200-day moving average is $7.74. AXT has a 1-year low of $1.85 and a 1-year high of $12.65. The company has a market cap of $503.45 million, a P/E ratio of -406.20 and a beta of 2.29.
In other news, CEO Morris S. Young sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $8.25, for a total value of $99,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Morris S. Young sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, December 7th. The stock was sold at an average price of $9.76, for a total transaction of $361,120.00. Following the completion of the transaction, the chief executive officer now owns 1,834,089 shares in the company, valued at approximately $17,900,708.64. The disclosure for this sale can be found here. Insiders sold a total of 86,000 shares of company stock worth $830,490 in the last 90 days. Corporate insiders own 8.10% of the company’s stock.
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Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of AXT by 5.4% in the 4th quarter. BlackRock Inc. now owns 2,825,523 shares of the semiconductor company’s stock valued at $27,041,000 after acquiring an additional 144,318 shares in the last quarter. Van ECK Associates Corp bought a new stake in AXT during the 4th quarter valued at $9,742,000. Game Plan Financial Advisors LLC increased its stake in AXT by 18.6% during the 4th quarter. Game Plan Financial Advisors LLC now owns 566,700 shares of the semiconductor company’s stock valued at $5,452,000 after purchasing an additional 88,850 shares in the last quarter. Millrace Asset Group Inc. increased its stake in AXT by 45.2% during the 3rd quarter. Millrace Asset Group Inc. now owns 416,734 shares of the semiconductor company’s stock valued at $2,550,000 after purchasing an additional 129,733 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in AXT by 48.9% during the 4th quarter. Russell Investments Group Ltd. now owns 220,273 shares of the semiconductor company’s stock valued at $2,109,000 after purchasing an additional 72,332 shares in the last quarter. Institutional investors own 61.83% 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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7 Transportation Stocks You Can’t Ignore
There is a situation developing in the U.S. that will drive revenue and profits for the transportation industry for many years to come. It started to develop with the pandemic, began to grow when the recession was less than expected, and was later compounded by an economic rebound that is much stronger than expected.
When the pandemic struck and lock-downs took effect manufacturers shuttered their plants and supply chains dried up. When Congress sent out the stimulus checks it sparked a round of consumer spending that has wiped products off of shelves. Now, with inventories across industries reportedly down high-single to low-double digits from the previous year, there is a need for 1) manufacturing to meet demand and rebuild inventory and 2) transportation/shipping that is growing by the day.
We have compiled a list of 7 transportation stocks that can’t be ignored,
