AXT (NASDAQ:AXTI) Price Target Cut to $4.10 by Analysts at Wedbush

Key Points

• Wedbush has lowered its price target for AXT (NASDAQ:AXTI) from $4.25 to $4.10, while maintaining an "outperform" rating, suggesting a potential upside of 106.03% from the current price.
• AXT recently reported an EPS of ($0.20), missing the consensus estimate of ($0.13), and has a negative return on equity of 8.54%.
• Institutional investors own approximately 49.52% of AXT, with notable purchases from firms like Wedbush Securities and Kennedy Capital Management in the fourth quarter.

AXT (NASDAQ:AXTI - Free Report) had its target price decreased by Wedbush from $4.25 to $4.10 in a report released on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the semiconductor company's stock.

Several other equities analysts also recently commented on AXTI. Wall Street Zen raised shares of AXT to a "sell" rating in a research note on Friday, April 25th. B. Riley reduced their price objective on shares of AXT from $4.50 to $4.30 and set a "buy" rating for the company in a report on Thursday, July 10th. One 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.60.

AXT Trading Down 2.8%

Shares of NASDAQ AXTI traded down $0.06 during mid-day trading on Friday, hitting $2.05. The company had a trading volume of 216,753 shares, compared to its average volume of 518,643. The company has a market capitalization of $93.48 million, a PE ratio of -3.73 and a beta of 2.10. The firm has a 50-day simple moving average of $2.08 and a two-hundred day simple moving average of $1.79. AXT has a one year low of $1.13 and a one year high of $3.07.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AXTI. Systematic Financial Management LP boosted its holdings in shares of AXT by 5.0% in the fourth quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company's stock worth $3,366,000 after buying an additional 74,211 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in AXT by 13.1% in the fourth 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 in the last quarter. D. E. Shaw & Co. Inc. increased its holdings 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 in the last quarter. GSA Capital Partners LLP boosted its position in AXT by 43.2% in the first quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company's stock valued at $752,000 after buying an additional 160,858 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in AXT by 75.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company's stock worth $748,000 after purchasing an additional 227,333 shares in the last quarter. 49.52% of the stock is currently owned by institutional investors.

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.