AXT Inc (AXTI) Stock Rating Lowered by BidaskClub
AXT Inc (NASDAQ:AXTI) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Monday.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Friday, July 28th. BWS Financial upped their price target on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research note on Saturday, June 17th. Needham & Company LLC upped their price target on AXT from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Finally, B. Riley reaffirmed a “neutral” rating and set a $8.50 price target on shares of AXT in a research note on Thursday, July 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. AXT currently has a consensus rating of “Buy” and a consensus price target of $9.04.
AXT (NASDAQ:AXTI) opened at 7.65 on Monday. AXT has a 12-month low of $3.73 and a 12-month high of $9.50. The company’s 50-day moving average price is $7.03 and its 200-day moving average price is $6.60. The firm has a market capitalization of $293.03 million, a price-to-earnings ratio of 38.25 and a beta of 1.08.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. AXT had a return on equity of 4.80% and a net margin of 8.15%. The business had revenue of $23.56 million for the quarter, compared to analyst estimates of $22.55 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts expect that AXT will post $0.24 EPS for the current fiscal year.
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In related news, Director David C. Chang sold 9,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total value of $79,200.00. Following the completion of the sale, the director now owns 164,807 shares in the company, valued at $1,450,301.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Morris S. Young sold 92,896 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $8.54, for a total value of $793,331.84. Following the completion of the sale, the chief executive officer now owns 1,213,200 shares of the company’s stock, valued at approximately $10,360,728. The disclosure for this sale can be found here. Insiders sold 114,396 shares of company stock valued at $960,857 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC bought a new stake in AXT during the first quarter worth approximately $101,000. SG Americas Securities LLC bought a new stake in AXT during the first quarter worth approximately $105,000. Sanctuary Wealth Advisors LLC bought a new stake in AXT during the first quarter worth approximately $116,000. BlueCrest Capital Management Ltd bought a new stake in AXT during the first quarter worth approximately $173,000. Finally, KBC Group NV bought a new stake in AXT during the second quarter worth approximately $196,000. Institutional investors and hedge funds own 54.84% of the company’s stock.
AXT Company Profile
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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