Zacks Investment Research upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a research note issued to investors on Monday.

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. “

AXTI has been the subject of several other reports. ValuEngine upgraded shares of AXT from a strong sell rating to a sell rating in a research report on Wednesday, January 2nd. B. Riley dropped their target price on shares of AXT to $6.25 and set a buy rating for the company in a research report on Tuesday, January 15th. TheStreet lowered shares of AXT from a b- rating to a c+ rating in a research report on Thursday, December 27th. Finally, BidaskClub upgraded shares of AXT from a sell rating to a hold rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. AXT has an average rating of Hold and an average price target of $7.88.

Shares of AXT stock opened at $4.24 on Monday. AXT has a 1 year low of $3.70 and a 1 year high of $9.38. The company has a market cap of $165.27 million, a price-to-earnings ratio of 16.31, a P/E/G ratio of 0.89 and a beta of 1.10.

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of AXT by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,320,596 shares of the semiconductor company’s stock worth $23,742,000 after acquiring an additional 39,600 shares in the last quarter. BlackRock Inc. raised its stake in shares of AXT by 3.0% during the fourth quarter. BlackRock Inc. now owns 2,746,560 shares of the semiconductor company’s stock worth $11,949,000 after acquiring an additional 79,457 shares in the last quarter. Royce & Associates LP raised its stake in shares of AXT by 15.3% during the fourth quarter. Royce & Associates LP now owns 2,144,784 shares of the semiconductor company’s stock worth $9,330,000 after acquiring an additional 284,200 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of AXT by 2.6% during the third quarter. Systematic Financial Management LP now owns 1,171,757 shares of the semiconductor company’s stock worth $8,378,000 after acquiring an additional 29,294 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its stake in shares of AXT by 6.3% during the third quarter. Pacific Ridge Capital Partners LLC now owns 791,219 shares of the semiconductor company’s stock worth $5,657,000 after acquiring an additional 46,741 shares in the last quarter. 54.40% of the stock is currently owned by hedge funds and other 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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