AXT (NASDAQ:AXTI) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday, BidAskClub reports.
Other analysts have also recently issued research reports about the company. Zacks Investment Research cut AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 29th. Craig Hallum upped their price target on AXT from $7.50 to $12.00 in a report on Tuesday, November 17th. B. Riley cut AXT from a “buy” rating to a “neutral” rating and set a $6.60 price target for the company. in a report on Tuesday, October 6th. They noted that the move was a valuation call. BWS Financial upped their price objective on AXT from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, November 17th. Finally, ValuEngine lowered AXT from a “buy” rating to a “hold” rating in a research note on Monday, November 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. AXT has a consensus rating of “Hold” and an average target price of $9.84.
AXTI opened at $10.78 on Thursday. The stock’s fifty day moving average is $9.81 and its 200-day moving average is $6.51. The company has a market capitalization of $445.21 million, a PE ratio of -359.21 and a beta of 2.29. AXT has a one year low of $1.85 and a one year high of $11.65.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $24.13 million. Research analysts expect that AXT will post 0.05 earnings per share for the current fiscal year.
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In related news, CEO Morris S. Young sold 37,000 shares of AXT stock in a transaction dated Tuesday, January 5th. The stock was sold at an average price of $10.01, for a total transaction of $370,370.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Morris S. Young sold 20,000 shares of AXT stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $7.35, for a total value of $147,000.00. In the last quarter, insiders have sold 141,000 shares of company stock valued at $1,215,290. Corporate insiders own 8.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AXTI. Millrace Asset Group Inc. grew its holdings in AXT by 45.2% during the third quarter. Millrace Asset Group Inc. now owns 416,734 shares of the semiconductor company’s stock worth $2,550,000 after purchasing an additional 129,733 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in AXT during the third quarter worth approximately $154,000. Brinker Capital Investments LLC acquired a new stake in AXT during the third quarter worth approximately $152,000. Kathmere Capital Management LLC acquired a new stake in AXT during the third quarter worth approximately $113,000. Finally, Formidable Asset Management LLC acquired a new stake in AXT during the third quarter worth approximately $113,000. Institutional investors and hedge funds own 61.89% of the company’s stock.
About AXT
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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20 Stocks Wall Street Analysts Love the Most
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.
