AXT's (AXTI) Outperform Rating Reaffirmed at Wedbush

AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "outperform" rating reiterated by Wedbush in a research note issued on Friday, Benzinga reports. They presently have a $6.00 price target on the semiconductor company's stock. Wedbush's price target suggests a potential upside of 63.93% from the company's current price.

Other research analysts have also issued reports about the stock. B. Riley boosted their price target on shares of AXT from $3.80 to $5.50 and gave the stock a "buy" rating in a research note on Friday, April 5th. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price target on shares of AXT in a research report on Friday. Craig Hallum lifted their price objective on shares of AXT from $3.75 to $5.00 and gave the company a "buy" rating in a research note on Tuesday, April 9th. Finally, StockNews.com cut AXT from a "hold" rating to a "sell" rating in a research note on Saturday, March 2nd. One equities 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 presently has an average rating of "Moderate Buy" and a consensus target price of $5.38.

AXT Price Performance

Shares of NASDAQ:AXTI traded up $0.63 on Friday, reaching $3.66. The company's stock had a trading volume of 13,581,864 shares, compared to its average volume of 2,093,250. The stock's 50-day moving average is $4.03 and its two-hundred day moving average is $2.93. AXT has a 52-week low of $1.89 and a 52-week high of $5.64. The stock has a market capitalization of $161.96 million, a P/E ratio of -8.51 and a beta of 2.28.

AXT (NASDAQ:AXTI - Get Free Report) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. The business had revenue of $22.69 million during the quarter, compared to analysts' expectations of $21.00 million. During the same period in the prior year, the company earned ($0.08) earnings per share. Equities analysts forecast that AXT will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of AXT

A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 2,500 shares in the last quarter. Byrne Asset Management LLC acquired a new position in AXT during the first quarter valued at approximately $28,000. Quadrature Capital Ltd grew its stake in shares of AXT by 46.6% in the fourth quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company's stock worth $90,000 after acquiring an additional 11,892 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of AXT in the fourth quarter worth $37,000. Finally, James Investment Research Inc. acquired a new stake in shares of AXT in the third quarter worth $38,000. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.