AXT, Inc. (NASDAQ:AXTI) Given Average Recommendation of “Hold” by Analysts

Posted by Defense World Staff on May 17th, 2023

Shares of AXT, Inc. (NASDAQ:AXTI – Get Rating) have been given a consensus rating of “Hold” by the seven analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.49.

AXTI has been the topic of several recent analyst reports. Craig Hallum decreased their target price on shares of AXT from $5.50 to $3.75 in a report on Friday, April 28th. B. Riley decreased their price target on shares of AXT from $5.00 to $3.70 in a report on Friday, April 28th. Northland Securities decreased their price target on shares of AXT from $9.00 to $5.00 in a report on Friday, April 28th. StockNews.com lowered shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Finally, Needham & Company LLC lifted their price target on shares of AXT from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, February 17th.

AXT Stock Performance

NASDAQ AXTI opened at $3.21 on Wednesday. AXT has a 52-week low of $2.47 and a 52-week high of $9.94. The stock has a market cap of $139.91 million, a PE ratio of 15.29 and a beta of 2.07. The firm has a 50-day moving average of $3.46 and a 200-day moving average of $4.53.

AXT (NASDAQ:AXTI – Get Rating) last released its earnings results on Thursday, February 16th. The semiconductor company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. AXT had a net margin of 7.69% and a return on equity of 3.91%. The firm had revenue of $26.80 million for the quarter, compared to analyst estimates of $29.62 million. As a group, analysts predict that AXT will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jesse Chen sold 7,500 shares of AXT stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $4.45, for a total transaction of $33,375.00. Following the sale, the director now directly owns 107,520 shares in the company, valued at approximately $478,464. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AXT

Hedge funds have recently added to or reduced their stakes in the business. Oberweis Asset Management Inc. acquired a new stake in AXT during the 3rd quarter worth approximately $1,467,000. Game Plan Financial Advisors LLC lifted its position in shares of AXT by 1.0% in the 4th quarter. Game Plan Financial Advisors LLC now owns 640,000 shares of the semiconductor company’s stock worth $2,803,000 after purchasing an additional 6,600 shares during the period. Redmond Asset Management LLC lifted its position in shares of AXT by 105.8% in the 3rd quarter. Redmond Asset Management LLC now owns 226,288 shares of the semiconductor company’s stock worth $1,516,000 after purchasing an additional 116,307 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in shares of AXT in the 3rd quarter worth approximately $195,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of AXT in the 3rd quarter worth approximately $120,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

About AXT

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AXT, Inc engages in the design, development, manufacture and distribution of compound and single element semiconductor substrates. It also sells specialty material substrates and raw materials used to make substrates and other related products. The company was founded by Morris S. Young and Davis Zhang in 1986 and is headquartered in Fremont, CA.