AXT Inc (NASDAQ:AXTI) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday, August 7th.
Several other equities research analysts have also issued reports on AXTI. BWS Financial initiated coverage on AXT in a report on Tuesday, April 11th. They set a “buy” rating and a $10.00 price target for the company. B. Riley reiterated a “neutral” rating and set a $7.00 price target on shares of AXT in a report on Friday, April 21st. Needham & Company LLC lifted their price target on AXT from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, April 27th. Zacks Investment Research lowered AXT from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. Finally, Dougherty & Co restated a “buy” rating on shares of AXT in a report on Saturday, June 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $8.83.
Shares of AXT (AXTI) traded up 0.66% on Monday, hitting $7.60. 237,736 shares of the stock traded hands. The stock has a market cap of $291.67 million, a price-to-earnings ratio of 38.00 and a beta of 1.08. AXT has a one year low of $3.85 and a one year high of $9.50. The company’s 50 day moving average is $7.48 and its 200 day moving average is $6.74.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, equities analysts forecast that AXT will post $0.24 EPS for the current year.
In related news, Director David C. Chang sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total value of $79,200.00. Following the completion of the sale, the director now directly owns 164,807 shares in the company, valued at approximately $1,450,301.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Morris S. Young sold 92,896 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $8.54, for a total value of $793,331.84. Following the completion of the sale, the chief executive officer now owns 1,213,200 shares of the company’s stock, valued at $10,360,728. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,396 shares of company stock valued at $924,507. Corporate insiders own 6.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of AXT by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,877,282 shares of the semiconductor company’s stock valued at $18,271,000 after buying an additional 284,259 shares in the last quarter. Vanguard Group Inc. increased its position in shares of AXT by 11.8% in the second quarter. Vanguard Group Inc. now owns 1,629,223 shares of the semiconductor company’s stock valued at $10,346,000 after buying an additional 172,194 shares in the last quarter. Northpointe Capital LLC increased its position in shares of AXT by 44.1% in the second quarter. Northpointe Capital LLC now owns 1,123,791 shares of the semiconductor company’s stock valued at $7,136,000 after buying an additional 343,758 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of AXT during the first quarter valued at approximately $6,084,000. Finally, Hood River Capital Management LLC increased its position in shares of AXT by 2.7% in the second quarter. Hood River Capital Management LLC now owns 1,009,019 shares of the semiconductor company’s stock valued at $6,407,000 after buying an additional 26,398 shares in the last quarter. 56.73% of the stock is currently owned by institutional investors.
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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