AXT (NASDAQ:AXTI) Shares Cross Above Two Hundred Day Moving Average After Earnings Miss

Key Points

• AXT Inc shares traded above their 200-day moving average of $1.79 at $2.08, despite missing quarterly earnings expectations with a reported EPS of ($0.16).
• Wall Street analysts have mixed ratings on AXT, with a consensus rating of "Moderate Buy" and price targets ranging from $4.30 to $4.70.
• Institutional investors currently own 49.52% of AXT's stock, with several hedge funds significantly increasing their stakes in the company recently.

AXT Inc (NASDAQ:AXTI - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $1.79 and traded as high as $2.24. AXT shares last traded at $2.08, with a volume of 311,991 shares changing hands.

The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.08). AXT had a negative return on equity of 8.54% and a negative net margin of 19.10%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AXTI shares. B. Riley reduced their price target on shares of AXT from $4.50 to $4.30 and set a "buy" rating on the stock in a research report on Thursday, July 10th. Wedbush reiterated an "outperform" rating and set a $4.50 price target on shares of AXT in a research report on Tuesday, April 29th. Finally, Wall Street Zen raised shares of AXT to a "sell" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.70.

Hedge Funds Weigh In On AXT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in shares of AXT during the fourth quarter valued at $628,000. Jacobs Levy Equity Management Inc. raised its stake in shares of AXT by 75.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company's stock valued at $748,000 after acquiring an additional 227,333 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of AXT by 43.2% during the first quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company's stock valued at $752,000 after acquiring an additional 160,858 shares during the last quarter. Kennedy Capital Management LLC raised its stake in shares of AXT by 13.1% during the fourth quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company's stock valued at $1,987,000 after acquiring an additional 106,121 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of AXT by 18.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 606,365 shares of the semiconductor company's stock valued at $1,316,000 after acquiring an additional 96,195 shares during the last quarter. Institutional investors own 49.52% of the company's stock.

AXT Stock Down 1.9%

The company's 50 day moving average price is $2.05 and its 200-day moving average price is $1.79. The stock has a market cap of $94.85 million, a P/E ratio of -4.84 and a beta of 2.07.

AXT Company Profile

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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