AXT, Inc. (NASDAQ:AXTI) Receives Average Rating of “Buy” from Brokerages

AXT, Inc. (NASDAQ:AXTI) has been assigned a consensus rating of “Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued a report on the stock in the last year is $5.20.

AXTI has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $5.50 price objective on shares of AXT in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday, November 1st. Finally, Northland Securities decreased their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Institutional Investors Weigh In On AXT

A number of institutional investors have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC raised its stake in shares of AXT by 65.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company’s stock worth $4,204,000 after buying an additional 766,122 shares in the last quarter. Systematic Financial Management LP lifted its holdings in AXT by 13.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after acquiring an additional 169,406 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of AXT during the 2nd quarter valued at about $468,000. Kennedy Capital Management LLC grew its stake in shares of AXT by 13.1% in the 4th quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company’s stock worth $1,987,000 after purchasing an additional 106,121 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of AXT in the 4th quarter worth approximately $145,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Price Performance

Shares of NASDAQ AXTI opened at $2.23 on Friday. The firm has a market capitalization of $99.79 million, a PE ratio of -8.92 and a beta of 2.08. AXT has a 1-year low of $1.73 and a 1-year high of $5.64. The business’s fifty day moving average price is $2.19 and its two-hundred day moving average price is $2.32.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.