AXT Inc. (AXTI) Hits New 12-Month High at $4.48
Shares of AXT Inc. (NASDAQ:AXTI) hit a new 52-week high on Tuesday . The company traded as high as $4.48 and last traded at $4.33, with a volume of 499,902 shares trading hands. The stock had previously closed at $4.02.
A number of analysts have weighed in on the stock. Needham & Company LLC upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Thursday, July 28th. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Tuesday, July 12th. Craig Hallum upgraded shares of AXT from a “hold” rating to a “buy” rating in a research report on Tuesday, May 3rd. Finally, B. Riley restated a “buy” rating and issued a $4.00 target price on shares of AXT in a research report on Wednesday, May 4th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. AXT presently has a consensus rating of “Buy” and an average target price of $4.93.
The stock’s 50-day moving average is $3.70 and its 200-day moving average is $3.12. The firm’s market capitalization is $142.58 million.
AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business earned $20.50 million during the quarter, compared to the consensus estimate of $19.97 million. AXT’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts forecast that AXT Inc. will post $0.13 EPS for the current fiscal year.
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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