Zacks Investment Research lowered shares of AXT (NASDAQ:AXTI) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “

Several other research firms also recently commented on AXTI. ValuEngine downgraded AXT from a hold rating to a sell rating in a report on Friday, September 7th. BidaskClub downgraded AXT from a sell rating to a strong sell rating in a research note on Wednesday, September 12th. Finally, B. Riley cut their price target on AXT from $10.00 to $8.50 and set a buy rating for the company in a research note on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. AXT has an average rating of Hold and a consensus target price of $9.00.

NASDAQ AXTI opened at $4.29 on Wednesday. AXT has a one year low of $4.17 and a one year high of $9.45. The stock has a market capitalization of $169.62 million, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14.

AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. AXT had a return on equity of 7.32% and a net margin of 13.00%. The company had revenue of $28.63 million during the quarter, compared to the consensus estimate of $28.14 million. During the same period last year, the company earned $0.11 EPS. AXT’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that AXT will post 0.34 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of AXT by 7.0% during the 2nd quarter. BlackRock Inc. now owns 2,653,369 shares of the semiconductor company’s stock valued at $18,706,000 after purchasing an additional 172,795 shares during the period. PEAK6 Investments LLC bought a new stake in shares of AXT during the 3rd quarter valued at about $292,000. Royce & Associates LP grew its stake in shares of AXT by 10.8% during the 3rd quarter. Royce & Associates LP now owns 1,860,584 shares of the semiconductor company’s stock valued at $13,303,000 after purchasing an additional 180,900 shares during the period. Systematic Financial Management LP grew its stake in shares of AXT by 2.6% during the 3rd quarter. Systematic Financial Management LP now owns 1,171,757 shares of the semiconductor company’s stock valued at $8,378,000 after purchasing an additional 29,294 shares during the period. Finally, Ariel Investments LLC grew its stake in shares of AXT by 7.6% during the 2nd quarter. Ariel Investments LLC now owns 283,741 shares of the semiconductor company’s stock valued at $2,000,000 after purchasing an additional 20,018 shares during the period. Institutional investors and hedge funds own 54.36% of the company’s stock.

About AXT

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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