AXT Inc. (AXTI) Shares Up 2%
AXT Inc. (NASDAQ:AXTI)’s share price shot up 2% during mid-day trading on Thursday . The stock traded as high as $4.52 and last traded at $4.49, with a volume of 191,380 shares. The stock had previously closed at $4.40.
Several brokerages have issued reports on AXTI. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a report on Tuesday, July 12th. B. Riley reiterated a “buy” rating and set a $4.80 target price on shares of AXT in a research note on Thursday, July 28th. Craig Hallum upgraded shares of AXT from a “hold” rating to a “buy” rating in a research note on Tuesday, May 3rd. Finally, Needham & Company LLC upgraded 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. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $4.93.
The firm’s market capitalization is $143.86 million. The firm has a 50 day moving average of $3.73 and a 200 day moving average of $3.13.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm earned $20.50 million during the quarter, compared to analyst estimates of $19.97 million. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts expect 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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