AXT Inc (AXTI) Given Average Recommendation of “Buy” by Analysts

AXT Inc (NASDAQ:AXTI) has been assigned a consensus rating of “Buy” from the six analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $10.58.

Several equities research analysts have commented on AXTI shares. Zacks Investment Research lowered shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of AXT in a research note on Thursday, October 26th. B. Riley lifted their price target on AXT from $8.50 to $8.75 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Finally, BidaskClub raised AXT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st.

In other news, CEO Morris S. Young sold 30,000 shares of AXT stock in a transaction on Monday, November 20th. The stock was sold at an average price of $9.76, for a total transaction of $292,800.00. Following the completion of the transaction, the chief executive officer now owns 1,211,970 shares of the company’s stock, valued at approximately $11,828,827.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gary L. Fischer sold 20,000 shares of AXT stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $9.16, for a total value of $183,200.00. Following the transaction, the chief financial officer now directly owns 84,515 shares of the company’s stock, valued at approximately $774,157.40. The disclosure for this sale can be found here. Insiders have sold a total of 133,375 shares of company stock valued at $1,216,235 in the last ninety days. Corporate insiders own 6.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Gotham Asset Management LLC raised its stake in AXT by 35.5% in the 2nd quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 6,182 shares during the last quarter. Granite Point Capital Management L.P. raised its stake in AXT by 17.5% in the 2nd quarter. Granite Point Capital Management L.P. now owns 47,000 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 7,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in AXT by 94.2% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock valued at $197,000 after purchasing an additional 10,451 shares during the last quarter. Voya Investment Management LLC acquired a new position in AXT in the 2nd quarter valued at about $100,000. Finally, Verition Fund Management LLC raised its stake in AXT by 23.7% in the 2nd quarter. Verition Fund Management LLC now owns 100,000 shares of the semiconductor company’s stock valued at $635,000 after purchasing an additional 19,145 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Shares of AXT (NASDAQ:AXTI) opened at $10.32 on Friday. The company has a market cap of $401.55, a price-to-earnings ratio of 43.02, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. AXT has a 1 year low of $4.35 and a 1 year high of $10.75.

AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $28.17 million for the quarter, compared to analyst estimates of $27.05 million. AXT had a net margin of 9.96% and a return on equity of 5.67%. The business’s revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. analysts forecast that AXT will post 0.26 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Week Herald and is the property of of Week Herald. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://weekherald.com/2017/12/11/axt-inc-axti-given-average-recommendation-of-buy-by-analysts.html.

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.

Receive News & Ratings for AXT Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply