B. Riley Upgrades AXT (AXTI) to Buy
AXT (NASDAQ:AXTI) was upgraded by equities research analysts at B. Riley from a “neutral” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $9.00 price target on the semiconductor company’s stock, up from their prior price target of $8.25. B. Riley’s price objective would indicate a potential upside of 32.35% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Zacks Investment Research downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Finally, Dougherty & Co restated a “buy” rating on shares of AXT in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $10.44.
Shares of AXT stock opened at $6.80 on Tuesday. The company has a market cap of $283.77, a P/E ratio of 26.15, a P/E/G ratio of 1.16 and a beta of 1.06. AXT has a twelve month low of $5.60 and a twelve month high of $10.75.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Fund Management S.A. bought a new position in AXT in the fourth quarter worth approximately $126,000. MetLife Investment Advisors LLC bought a new position in AXT in the fourth quarter worth approximately $166,000. Ladenburg Thalmann Financial Services Inc. raised its position in AXT by 94.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock worth $197,000 after acquiring an additional 10,451 shares during the period. JPMorgan Chase & Co. bought a new position in AXT in the third quarter worth approximately $203,000. Finally, FNY Partners Fund LP bought a new position in AXT in the fourth quarter worth approximately $197,000. Institutional investors and hedge funds own 56.12% of the company’s stock.
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.
Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.