AXT (AXTI) Downgraded by BidaskClub to Hold
BidaskClub cut shares of AXT (NASDAQ:AXTI) from a buy rating to a hold rating in a research note released on Friday.
A number of other equities analysts have also recently weighed in on AXTI. Zacks Investment Research upgraded AXT from a hold rating to a buy rating and set a $9.75 price target for the company in a report on Wednesday, December 27th. B. Riley upped their price target on AXT from $8.50 to $8.75 and gave the stock a neutral rating in a report on Thursday, October 26th. Finally, Needham & Company LLC restated a buy rating and issued a $11.00 price target (up previously from $10.00) on shares of AXT in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. AXT presently has a consensus rating of Buy and an average target price of $9.90.
AXT (NASDAQ:AXTI) opened at $8.15 on Friday. The firm has a market capitalization of $342.24, a P/E ratio of 33.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.11. AXT has a fifty-two week low of $5.10 and a fifty-two week high of $10.75.
Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of AXT by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,877,282 shares of the semiconductor company’s stock valued at $18,271,000 after buying an additional 284,259 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of AXT during the 2nd quarter valued at approximately $418,000. Rhumbline Advisers purchased a new position in shares of AXT during the 2nd quarter valued at approximately $253,000. Schwab Charles Investment Management Inc. purchased a new position in shares of AXT during the 2nd quarter valued at approximately $429,000. Finally, New York State Common Retirement Fund boosted its stake in shares of AXT by 233.8% during the 2nd quarter. New York State Common Retirement Fund now owns 608,093 shares of the semiconductor company’s stock valued at $3,861,000 after buying an additional 425,912 shares during the last quarter. Institutional investors own 58.91% of the company’s stock.
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AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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