AXT Inc. (NASDAQ:AXTI) shares shot up 2% on Thursday . The stock traded as high as $4.52 and last traded at $4.49, with a volume of 191,380 shares trading hands. The stock had previously closed at $4.40.

Several brokerages recently weighed in on AXTI. Needham & Company LLC raised shares of AXT from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Thursday, July 28th. 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. Finally, B. Riley restated a “buy” rating and issued a $4.00 price target on shares of AXT in a report on Wednesday, May 4th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. AXT presently has a consensus rating of “Buy” and a consensus price target of $4.93.

The firm’s market capitalization is $142.26 million. The company’s 50 day moving average is $3.76 and its 200-day moving average is $3.14.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that AXT Inc. will post $0.13 earnings per share 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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