AXT (NASDAQ:AXTI) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a report issued on Monday morning.

AXTI has been the topic of a number of other reports. Wedbush reissued an outperform rating and issued a $6.00 price objective on shares of AXT in a report on Friday. Craig Hallum upped their price objective on shares of AXT from $3.75 to $5.00 and gave the company a buy rating in a report on Tuesday, April 9th. Needham & Company LLC reissued a buy rating and set a $5.00 target price on shares of AXT in a report on Friday. Finally, B. Riley upped their price target on shares of AXT from $3.80 to $5.50 and gave the company a buy rating in a report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, AXT presently has an average rating of Moderate Buy and a consensus target price of $5.38.

AXT Stock Up 7.4 %

AXTI stock opened at $3.93 on Monday. AXT has a 52 week low of $1.89 and a 52 week high of $5.64. The stock has a market capitalization of $173.90 million, a PE ratio of -9.82 and a beta of 2.28. The firm has a 50 day moving average of $4.02 and a 200 day moving average of $2.95.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. AXT had a negative net margin of 21.01% and a negative return on equity of 7.36%. The business had revenue of $22.69 million during the quarter, compared to the consensus estimate of $21.00 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. On average, equities research analysts expect that AXT will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On AXT

Several large investors have recently made changes to their positions in AXTI. PNC Financial Services Group Inc. increased its holdings in AXT by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 2,500 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of AXT during the 1st quarter valued at about $28,000. Brookstone Capital Management purchased a new position in shares of AXT in the 4th quarter valued at about $37,000. James Investment Research Inc. acquired a new position in AXT in the 3rd quarter worth about $38,000. Finally, Brown Advisory Inc. purchased a new position in AXT during the fourth quarter worth approximately $50,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.