AXT Inc (NASDAQ:AXTI) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, August 1st.
AXTI has been the subject of several other research reports. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Tuesday, May 23rd. BWS Financial initiated coverage on shares of AXT in a research note on Tuesday, April 11th. They issued a “buy” rating and a $10.00 target price for the company. Needham & Company LLC boosted their target price on shares of AXT from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. B. Riley reissued a “neutral” rating and issued a $8.50 target price on shares of AXT in a research note on Thursday, July 27th. Finally, Dougherty & Co reissued a “buy” rating on shares of AXT in a research note on Saturday, June 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. AXT currently has an average rating of “Buy” and a consensus price target of $8.83.
AXT (NASDAQ:AXTI) traded up 0.66% during trading on Tuesday, reaching $7.60. 237,736 shares of the company’s stock were exchanged. The firm has a market capitalization of $291.67 million, a price-to-earnings ratio of 38.00 and a beta of 1.08. AXT has a 52 week low of $3.85 and a 52 week high of $9.50. The stock has a 50-day moving average price of $7.48 and a 200 day moving average price of $6.74.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $23.56 million during the quarter, compared to the consensus estimate of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. Equities research analysts forecast that AXT will post $0.24 earnings per share for the current fiscal year.
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In other news, CEO Morris S. Young sold 92,896 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $8.54, for a total transaction of $793,331.84. Following the completion of the sale, the chief executive officer now owns 1,213,200 shares in the company, valued at approximately $10,360,728. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert G. Ochrym sold 7,500 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $6.93, for a total value of $51,975.00. Following the sale, the vice president now owns 39,000 shares of the company’s stock, valued at approximately $270,270. The disclosure for this sale can be found here. Insiders have sold a total of 109,396 shares of company stock valued at $924,507 in the last quarter. Company insiders own 6.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Verition Fund Management LLC boosted its stake in shares of AXT by 23.7% in the second quarter. Verition Fund Management LLC now owns 100,000 shares of the semiconductor company’s stock worth $635,000 after buying an additional 19,145 shares during the last quarter. California State Teachers Retirement System purchased a new stake in shares of AXT during the second quarter worth about $418,000. The Manufacturers Life Insurance Company boosted its stake in shares of AXT by 15,013.0% in the second quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock worth $192,000 after buying an additional 30,026 shares during the last quarter. State Street Corp boosted its stake in shares of AXT by 2,392.6% in the second quarter. State Street Corp now owns 461,458 shares of the semiconductor company’s stock worth $2,931,000 after buying an additional 442,945 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its stake in shares of AXT by 35.5% in the second quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock worth $150,000 after buying an additional 6,182 shares during the last quarter. Institutional investors and hedge funds own 56.73% of the company’s stock.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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