ValuEngine Upgrades AXT (AXTI) to “Hold”

AXT (NASDAQ:AXTI) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other research firms also recently weighed in on AXTI. BidaskClub downgraded AXT from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. B. Riley dropped their price target on AXT from $8.75 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research note on Thursday, February 22nd. BWS Financial reaffirmed a “buy” rating on shares of AXT in a research note on Tuesday, April 17th. Finally, Zacks Investment Research downgraded AXT from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. AXT presently has an average rating of “Buy” and a consensus target price of $10.44.

AXT opened at $7.55 on Thursday, Marketbeat reports. AXT has a fifty-two week low of $5.80 and a fifty-two week high of $10.75. The company has a market cap of $262.26 million, a P/E ratio of 29.04, a PEG ratio of 1.05 and a beta of 1.10.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, April 25th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. AXT had a return on equity of 6.84% and a net margin of 12.06%. The business had revenue of $24.40 million for the quarter, compared to the consensus estimate of $24.24 million. During the same period in the prior year, the business earned $0.02 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. analysts anticipate that AXT will post 0.36 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Systematic Financial Management LP raised its stake in shares of AXT by 8.0% in the first quarter. Systematic Financial Management LP now owns 895,464 shares of the semiconductor company’s stock worth $6,492,000 after purchasing an additional 66,335 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of AXT by 10.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 74,674 shares of the semiconductor company’s stock worth $650,000 after purchasing an additional 7,174 shares during the last quarter. Granite Point Capital Management L.P. raised its stake in shares of AXT by 309.5% in the fourth quarter. Granite Point Capital Management L.P. now owns 172,000 shares of the semiconductor company’s stock worth $1,496,000 after purchasing an additional 130,000 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of AXT by 169.3% in the fourth quarter. Two Sigma Advisers LP now owns 79,700 shares of the semiconductor company’s stock worth $693,000 after purchasing an additional 50,100 shares during the last quarter. Finally, Argent Capital Management LLC purchased a new stake in shares of AXT in the first quarter worth approximately $1,004,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

AXT Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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