AXT (NASDAQ:AXTI) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other research firms have also issued reports on AXTI. B. Riley upped their target price on AXT from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 20th. BidaskClub raised AXT from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. TheStreet raised AXT from a “c+” rating to a “b-” rating in a research note on Tuesday, June 5th. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Tuesday, July 24th. Finally, Dougherty & Co reissued a “buy” rating on shares of AXT in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. AXT has an average rating of “Hold” and a consensus price target of $10.17.

AXTI stock opened at $7.30 on Friday. AXT has a 1 year low of $5.80 and a 1 year high of $10.75. The company has a market capitalization of $292.38 million, a P/E ratio of 28.08, a P/E/G ratio of 1.36 and a beta of 1.05.

AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. AXT had a return on equity of 7.72% and a net margin of 13.51%. The firm had revenue of $27.12 million for the quarter, compared to analyst estimates of $26.10 million. During the same quarter in the prior year, the company earned $0.05 EPS. AXT’s revenue was up 15.1% on a year-over-year basis. equities analysts forecast that AXT will post 0.36 earnings per share for the current year.

Several institutional investors have recently modified their holdings of AXTI. Deutsche Bank AG lifted its stake in shares of AXT by 124.5% during the 4th quarter. Deutsche Bank AG now owns 84,280 shares of the semiconductor company’s stock worth $732,000 after purchasing an additional 46,747 shares during the period. Wells Fargo & Company MN lifted its stake in shares of AXT by 9.2% during the 1st quarter. Wells Fargo & Company MN now owns 395,698 shares of the semiconductor company’s stock worth $2,869,000 after purchasing an additional 33,191 shares during the period. American Century Companies Inc. lifted its stake in shares of AXT by 29.4% during the 1st quarter. American Century Companies Inc. now owns 41,963 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 9,522 shares during the period. Victory Capital Management Inc. purchased a new position in shares of AXT during the 1st quarter worth $133,000. Finally, Hood River Capital Management LLC lifted its stake in shares of AXT by 1.9% during the 1st quarter. Hood River Capital Management LLC now owns 1,419,671 shares of the semiconductor company’s stock worth $10,293,000 after purchasing an additional 25,854 shares during the period. 55.21% 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. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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