AXT Inc (NASDAQ:AXTI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• AXT Inc (NASDAQ:AXTI) has received a consensus rating of "Moderate Buy" from five analysts, with one sell recommendation and four buy recommendations.
• The average 12-month price target for AXT among brokerages is $4.60, reflecting a slight decrease from previous estimates.
• AXT shares experienced significant trading volume, with 4,028,462 shares traded on Friday, compared to an average volume of 1,595,379 shares.

Shares of AXT Inc (NASDAQ:AXTI - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $4.60.

Several brokerages have recently commented on AXTI. Weiss Ratings restated a "sell (d-)" rating on shares of AXT in a research report on Saturday, September 27th. B. Riley dropped their price objective on shares of AXT from $4.50 to $4.30 and set a "buy" rating for the company in a research note on Thursday, July 10th. Finally, Wedbush decreased their price objective on shares of AXT from $4.25 to $4.10 and set an "outperform" rating for the company in a report on Friday, August 1st.

AXT Price Performance

Shares of AXTI stock traded up $0.43 on Friday, hitting $5.13. 4,028,462 shares of the stock traded hands, compared to its average volume of 1,595,379. The firm has a market cap of $236.60 million, a price-to-earnings ratio of -9.33 and a beta of 2.26. AXT has a 52 week low of $1.13 and a 52 week high of $5.48. The firm has a 50 day simple moving average of $3.18 and a two-hundred day simple moving average of $2.21.

Institutional Investors Weigh In On AXT

Several large investors have recently modified their holdings of AXTI. Jacobs Levy Equity Management Inc. raised its holdings in shares of AXT by 75.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company's stock valued at $748,000 after purchasing an additional 227,333 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of AXT by 43.2% during the 1st quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company's stock worth $752,000 after acquiring an additional 160,858 shares in the last quarter. Creative Planning purchased a new stake in AXT during the 2nd quarter worth approximately $86,000. Jane Street Group LLC purchased a new stake in AXT during the 4th quarter worth approximately $60,000. Finally, White Pine Capital LLC grew its position in AXT by 2.8% during the 2nd quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company's stock worth $1,798,000 after purchasing an additional 23,467 shares during the last quarter. Institutional investors own 49.52% of the company's stock.

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.

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