AXT Inc (AXTI) Receives $10.06 Consensus Target Price from Analysts
Shares of AXT Inc (NASDAQ:AXTI) have earned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $10.06.
Several equities research analysts have issued reports on AXTI shares. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of AXT in a research report on Sunday, September 17th. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Friday, September 15th. BidaskClub upgraded shares of AXT from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. BWS Financial raised their price objective on shares of AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, B. Riley restated a “neutral” rating and set a $8.50 price objective on shares of AXT in a research report on Tuesday, August 1st.
In other news, Director David C. Chang sold 9,000 shares of AXT stock in a transaction that occurred on Tuesday, August 1st. The shares were 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 directly owns 164,807 shares in the company, valued at $1,450,301.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Morris S. Young sold 92,896 shares of AXT stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.54, for a total transaction 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 $10,360,728. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXTI. Voya Investment Management LLC acquired a new stake in shares of AXT in the second quarter valued at approximately $100,000. Gotham Asset Management LLC acquired a new stake in shares of AXT in the first quarter valued at approximately $101,000. SG Americas Securities LLC acquired a new stake in shares of AXT in the first quarter valued at approximately $105,000. BlueCrest Capital Management Ltd acquired a new stake in shares of AXT in the first quarter valued at approximately $173,000. Finally, Nationwide Fund Advisors raised its position in shares of AXT by 278.0% in the second quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 20,892 shares in the last quarter. Institutional investors own 61.87% of the company’s stock.
Shares of AXT (AXTI) traded up 0.54% during trading on Friday, reaching $9.35. The company had a trading volume of 290,805 shares. AXT has a 12 month low of $4.35 and a 12 month high of $9.70. The firm has a 50 day moving average price of $8.43 and a 200 day moving average price of $7.23. The company has a market cap of $358.82 million, a price-to-earnings ratio of 46.75 and a beta of 1.16.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $23.56 million during the quarter, compared to the consensus estimate of $22.55 million. AXT had a net margin of 8.15% and a return on equity of 4.61%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. Analysts predict that AXT will post $0.24 earnings per share for the current year.
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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