AXT (NASDAQ:AXTI – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Saturday.
Several other analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of AXT in a report on Friday, February 23rd. B. Riley raised shares of AXT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2.40 to $3.80 in a report on Friday, February 23rd. Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of AXT in a report on Friday, February 23rd. Finally, Craig Hallum raised shares of AXT from a “hold” rating to a “buy” rating and raised their price target for the company from $2.25 to $3.75 in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, AXT has a consensus rating of “Moderate Buy” and a consensus price target of $4.71.
AXT Trading Down 0.5 %
NASDAQ AXTI opened at $4.27 on Friday. The firm has a market cap of $186.34 million, a price-to-earnings ratio of -9.93 and a beta of 2.08. The company has a 50 day moving average of $2.71 and a 200-day moving average of $2.43. AXT has a 1-year low of $1.89 and a 1-year high of $5.43.
Institutional Trading of AXT
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Wilshire Securities Management Inc. grew its holdings in AXT by 30.8% during the 4th quarter. First Wilshire Securities Management Inc. now owns 3,306,715 shares of the semiconductor company’s stock worth $7,936,000 after acquiring an additional 779,548 shares during the period. Vanguard Group Inc. grew its holdings in AXT by 14.3% during the 4th quarter. Vanguard Group Inc. now owns 2,275,457 shares of the semiconductor company’s stock worth $5,461,000 after acquiring an additional 285,113 shares during the period. Needham Investment Management LLC grew its holdings in AXT by 18.2% during the 4th quarter. Needham Investment Management LLC now owns 1,460,450 shares of the semiconductor company’s stock worth $6,397,000 after acquiring an additional 225,000 shares during the period. Royce & Associates LP grew its holdings in AXT by 1.9% during the 1st quarter. Royce & Associates LP now owns 1,244,200 shares of the semiconductor company’s stock worth $4,952,000 after acquiring an additional 23,200 shares during the period. Finally, Pacific Ridge Capital Partners LLC grew its holdings in AXT by 1.8% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 1,232,069 shares of the semiconductor company’s stock worth $2,957,000 after acquiring an additional 21,973 shares during the period. Institutional investors and hedge funds own 53.92% of the company’s stock.
About AXT
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.