According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “
Other equities analysts have also recently issued research reports about the company. Wedbush restated an outperform rating and issued a $13.00 price target on shares of AXT in a research report on Wednesday, March 9th. StockNews.com upgraded AXT from a sell rating to a hold rating in a research report on Thursday, May 12th. Northland Securities dropped their price target on AXT from $15.00 to $12.00 in a research report on Friday, April 29th. Finally, B. Riley dropped their price target on AXT from $9.50 to $8.00 in a research report on Friday, April 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $9.88.
AXT (NASDAQ:AXTI – Get Rating) last posted its earnings results on Thursday, April 28th. The semiconductor company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. AXT had a return on equity of 6.41% and a net margin of 9.83%. The business had revenue of $39.65 million during the quarter, compared to the consensus estimate of $39.17 million. During the same period in the previous year, the business earned $0.08 EPS. Sell-side analysts forecast that AXT will post 0.37 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Formidable Asset Management LLC increased its position in AXT by 9.2% during the 4th quarter. Formidable Asset Management LLC now owns 24,325 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 2,050 shares during the period. Citigroup Inc. increased its position in AXT by 146.8% during the 3rd quarter. Citigroup Inc. now owns 4,686 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 2,787 shares during the period. JPMorgan Chase & Co. increased its position in AXT by 22.9% during the 1st quarter. JPMorgan Chase & Co. now owns 19,071 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 3,553 shares during the period. Charles Schwab Investment Management Inc. increased its position in AXT by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 105,560 shares of the semiconductor company’s stock worth $930,000 after purchasing an additional 3,977 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in AXT by 124.2% during the 3rd quarter. Advisor Group Holdings Inc. now owns 7,735 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 4,285 shares during the period. Institutional investors own 53.51% of the company’s stock.
About AXT (Get Rating)
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.
- Get a free copy of the StockNews.com research report on AXT (AXTI)
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