AXT Inc. (AXTI) Hits New 1-Year High at $4.48
AXT Inc. (NASDAQ:AXTI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $4.48 and last traded at $4.33, with a volume of 499,902 shares changing hands. The stock had previously closed at $4.02.
AXTI has been the topic of several research analyst reports. B. Riley reissued a “buy” rating and issued a $4.80 price target on shares of AXT in a report on Thursday, July 28th. Needham & Company LLC raised shares of AXT from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a report on Thursday, July 28th. TheStreet raised shares of AXT from a “hold” rating to a “buy” rating in a report on Wednesday, May 25th. Craig Hallum raised shares of AXT from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. Finally, Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Tuesday, July 12th. Four investment 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 target price of $4.93.
The company has a 50-day moving average of $3.67 and a 200 day moving average of $3.11. The firm’s market cap is $139.37 million.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $20.50 million for the quarter, compared to analyst estimates of $19.97 million. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts predict 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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