Shares of AXT Inc (NASDAQ:AXTI) hit a new 52-week high on Monday . The stock traded as high as $10.40 and last traded at $9.30, with a volume of 667000 shares trading hands. The stock had previously closed at $9.20.

AXTI has been the subject of several research analyst reports. BidaskClub raised AXT from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. BWS Financial boosted their price objective on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of AXT in a report on Sunday, September 17th. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Friday, July 28th. Finally, B. Riley reissued a “hold” rating and issued a $8.50 price objective on shares of AXT in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.95.

The company has a market cap of $415.17, a price-to-earnings ratio of 38.75, a P/E/G ratio of 2.04 and a beta of 1.13.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. AXT had a return on equity of 5.67% and a net margin of 9.96%. The business had revenue of $28.17 million during the quarter, compared to analyst estimates of $27.05 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. equities research analysts expect that AXT Inc will post 0.26 EPS for the current fiscal year.

In other AXT news, VP Robert G. Ochrym sold 25,250 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $8.94, for a total value of $225,735.00. Following the completion of the sale, the vice president now directly owns 10,750 shares in the company, valued at $96,105. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Morris S. Young sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $8.86, for a total value of $443,000.00. The disclosure for this sale can be found here. Insiders sold a total of 103,375 shares of company stock valued at $923,435 over the last three months. Corporate insiders own 6.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXTI. Voya Investment Management LLC acquired a new stake in AXT in the second quarter worth approximately $100,000. Gotham Asset Management LLC lifted its position in AXT by 35.5% in the second quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 6,182 shares during the period. Nationwide Fund Advisors lifted its position in AXT by 278.0% in the second quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 20,892 shares during the period. The Manufacturers Life Insurance Company lifted its position in AXT by 15,013.0% in the second quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 30,026 shares during the period. Finally, KBC Group NV acquired a new stake in AXT in the second quarter worth approximately $196,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

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AXT Company Profile

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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