AXT (NASDAQ:AXTI) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of AXT (NASDAQ:AXTI) from a buy rating to a hold rating in a report published on Friday, Zacks.com reports.

According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “

Separately, ValuEngine lowered shares of Willdan Group from a buy rating to a hold rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. AXT currently has a consensus rating of Hold and an average target price of $5.38.

Shares of AXTI opened at $3.95 on Friday. The stock has a market cap of $158.40 million, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.99 and a beta of 1.45. AXT has a 12 month low of $3.55 and a 12 month high of $9.38. The company’s fifty day simple moving average is $4.06.

AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $20.20 million for the quarter, compared to analysts’ expectations of $20.69 million. AXT had a return on equity of 2.97% and a net margin of 5.78%. The business’s revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Research analysts forecast that AXT will post 0.13 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in AXTI. White Pine Capital LLC purchased a new position in AXT during the first quarter worth about $589,000. Kennedy Capital Management Inc. raised its position in AXT by 43.6% during the 1st quarter. Kennedy Capital Management Inc. now owns 789,272 shares of the semiconductor company’s stock valued at $3,512,000 after purchasing an additional 239,715 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in shares of AXT by 27.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,265,074 shares of the semiconductor company’s stock worth $5,630,000 after acquiring an additional 276,290 shares in the last quarter. Royce & Associates LP raised its position in shares of AXT by 10.7% in the 1st quarter. Royce & Associates LP now owns 2,375,084 shares of the semiconductor company’s stock worth $10,569,000 after acquiring an additional 230,300 shares in the last quarter. Finally, Apis Capital Advisors LLC bought a new position in shares of AXT in the 1st quarter worth approximately $312,000. Institutional investors and hedge funds own 57.72% of the company’s stock.

AXT Company Profile

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.

Further Reading: Depreciation

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