BWS Financial Boosts AXT Inc (NASDAQ:AXTI) Price Target to $12.00
AXT Inc (NASDAQ:AXTI) had its price objective lifted by BWS Financial from $10.00 to $12.00 in a report published on Thursday, MarketBeat.com reports. BWS Financial currently has a buy rating on the semiconductor company’s stock.
Several other analysts have also recently commented on AXTI. B. Riley reiterated a neutral rating and issued a $7.00 target price on shares of AXT in a report on Friday, April 21st. Needham & Company LLC upped their target price on AXT from $8.50 to $9.00 and gave the company a buy rating in a report on Thursday, April 27th. Zacks Investment Research cut AXT from a hold rating to a sell rating in a report on Thursday, April 27th. Dougherty & Co reiterated a buy rating on shares of AXT in a report on Saturday, June 17th. Finally, BidaskClub upgraded AXT from a hold rating to a buy rating in a report on Thursday, July 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $9.04.
Shares of AXT (NASDAQ:AXTI) traded down 0.289% during mid-day trading on Thursday, hitting $8.625. 238,416 shares of the company were exchanged. The company has a market capitalization of $330.38 million, a price-to-earnings ratio of 43.125 and a beta of 1.01. AXT has a 12-month low of $3.62 and a 12-month high of $8.90. The firm has a 50 day moving average of $6.90 and a 200 day moving average of $6.54.
AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. AXT had a return on equity of 4.80% and a net margin of 8.15%. The business had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $22.55 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. Equities research analysts forecast that AXT will post $0.24 earnings per share for the current year.
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In other AXT news, VP Robert G. Ochrym sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $6.93, for a total transaction of $51,975.00. Following the transaction, the vice president now directly owns 39,000 shares in the company, valued at approximately $270,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard J. Leblanc sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.27, for a total value of $36,350.00. Following the transaction, the director now owns 149,134 shares in the company, valued at $1,084,204.18. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in AXT by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,593,023 shares of the semiconductor company’s stock worth $15,040,000 after buying an additional 341,318 shares during the last quarter. Vanguard Group Inc. boosted its position in AXT by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,457,029 shares of the semiconductor company’s stock worth $8,450,000 after buying an additional 36,065 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in AXT during the first quarter worth about $6,084,000. Hood River Capital Management LLC acquired a new position in AXT during the first quarter worth about $5,699,000. Finally, Renaissance Technologies LLC boosted its position in AXT by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 918,834 shares of the semiconductor company’s stock worth $4,410,000 after buying an additional 6,738 shares during the last quarter. Hedge funds and other institutional investors own 54.84% of the company’s stock.
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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