AXT Inc. (NASDAQ:AXTI)’s share price shot up 3.2% on Friday . The stock traded as high as $3.55 and last traded at $3.52, with a volume of 76,920 shares trading hands. The stock had previously closed at $3.41.

Several research firms have weighed in on AXTI. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a report on Tuesday, July 12th. Craig Hallum upgraded AXT from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. B. Riley restated a “buy” rating and set a $4.00 price target on shares of AXT in a report on Wednesday, May 4th. Finally, TheStreet upgraded AXT from a “hold” rating to a “buy” rating in a report on Wednesday, May 25th.

The company has a 50-day moving average price of $3.37 and a 200 day moving average price of $2.90. The company’s market capitalization is $112.64 million.

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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