AXT, Inc. (NASDAQ:AXTI) Receives Consensus Rating of “Moderate Buy” from Analysts

Posted by on Jul 31st, 2023

AXT, Inc. (NASDAQ:AXTI – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $5.89.

Several research analysts recently weighed in on the company. Northland Securities lowered their price objective on AXT from $9.00 to $5.00 in a research report on Friday, April 28th. Needham & Company LLC lowered their price objective on AXT from $8.00 to $5.00 in a research report on Friday, June 16th. Craig Hallum lowered their price objective on AXT from $5.50 to $3.75 in a research report on Friday, April 28th. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, B. Riley lowered their price objective on AXT from $5.00 to $3.70 in a research report on Friday, April 28th.

AXT Price Performance

AXTI stock opened at $2.99 on Monday. The business has a 50 day simple moving average of $3.30 and a 200-day simple moving average of $3.93. The firm has a market capitalization of $130.33 million, a PE ratio of 14.24 and a beta of 2.01. AXT has a 1 year low of $2.47 and a 1 year high of $9.94.

AXT (NASDAQ:AXTI – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $19.41 million during the quarter, compared to analyst estimates of $20.11 million. AXT had a return on equity of 3.90% and a net margin of 7.69%. On average, equities research analysts expect that AXT will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AXTI. Allspring Global Investments Holdings LLC raised its stake in shares of AXT by 2,349.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,202 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 6,908 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in shares of AXT in the first quarter valued at $40,000. Morling Financial Advisors LLC acquired a new stake in shares of AXT in the first quarter valued at $40,000. American Century Companies Inc. acquired a new stake in shares of AXT in the fourth quarter valued at $44,000. Finally, Barclays PLC raised its stake in shares of AXT by 542.4% in the fourth quarter. Barclays PLC now owns 11,049 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 9,329 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

AXT Company Profile

(Get Free Report

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

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Analyst Recommendations for AXT (NASDAQ:AXTI)

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