B. Riley Issues Pessimistic Forecast for AXT (NASDAQ:AXTI) Stock Price

AXT (NASDAQ:AXTI - Get Free Report) had its price objective decreased by stock analysts at B. Riley from $4.50 to $4.30 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. B. Riley's price target indicates a potential upside of 95.45% from the stock's current price.

Several other brokerages also recently issued reports on AXTI. Wedbush reissued an "outperform" rating and issued a $4.50 price objective on shares of AXT in a research note on Tuesday, April 29th. Wall Street Zen raised shares of AXT to a "sell" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AXT has an average rating of "Moderate Buy" and a consensus target price of $4.70.

AXT Stock Down 2.7%

AXTI stock traded down $0.06 during trading on Thursday, reaching $2.20. The company's stock had a trading volume of 469,055 shares, compared to its average volume of 442,037. AXT has a 1 year low of $1.13 and a 1 year high of $4.03. The company has a market capitalization of $100.33 million, a P/E ratio of -5.12 and a beta of 2.07. The company's fifty day moving average is $1.79 and its 200-day moving average is $1.78.

AXT (NASDAQ:AXTI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.07). AXT had a negative return on equity of 8.54% and a negative net margin of 19.10%. Analysts anticipate that AXT will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On AXT

Several institutional investors and hedge funds have recently made changes to their positions in AXTI. Pacific Ridge Capital Partners LLC lifted its stake in shares of AXT by 65.4% during the fourth 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 during the period. Point72 Asset Management L.P. acquired a new position in AXT during the fourth quarter valued at $628,000. Jacobs Levy Equity Management Inc. lifted its position in 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 purchasing an additional 227,333 shares during the period. GSA Capital Partners LLP lifted its position in 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 purchasing an additional 160,858 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in 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 purchasing an additional 106,121 shares during the period. 49.52% of the stock is currently owned by institutional investors and hedge funds.

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.