According to Bloomberg, the eight rating agencies presently covering AXT, Inc. (NASDAQ: AXTI) have recommended “Moderate Buy” as the consensus rating for their coverage of the company. One analyst has recommended to investors that they sell the stock, while four analysts have recommended purchasing it. The target price for the next year, as determined by brokerages that have rated the company during the past year, is $8.92 on average.
Several analysts that specialize in equity research have expressed their opinions regarding the stock. The shares of AXT were lowered by the investment research firm StockNews.com from a “hold” recommendation to a “sell” rating in a report issued on Sunday. In a report distributed by Craig Hallum on November 1st, the company stated that they had lowered their price target on AXT shares to $7.00. The Street lowered its rating for AXT from “b-” to “c+” in a report made public on Wednesday, October 19th. In research made public on Tuesday, October 4th, Northland Securities lowered their price target on AXT shares from $12.00 to $10.00. The brokerage firm also assigned an “outperform” rating to the company. Lastly, BWS Financial lowered their price target on AXT shares from $20.00 to $12.00 and gave the company a “buy” rating in a report published on Thursday, October 6th.
Recent events have resulted in a change in the company’s stake held by institutional investors. The Essex Investment Management Co. LLC acquired a new interest in AXT during the second quarter by making a purchase that cost close to $26,000. Amalgamated Bank acquired a new interest in AXT during the first quarter by making a purchase that cost close to $34,000. During the first three months of 2018, Clearstead Advisors LLC invested roughly $35,000 to acquire a new interest in AXT. Lazard Asset Management LLC acquired a new position in AXT during the second quarter for close to $43,000 in total expenditures. Finally, Tower Research Capital LLC (TRC) boosted the percentage of AXT stock that it owns by 317.3% during the third quarter. After making an earlier purchase of 7,578 shares, Tower Research Capital LLC (TRC) now has 9,966 shares of the stock issued by the semiconductor business, with a value of $67,000. At this time, institutional investors own 54.84% of the company’s stock.
Wednesday’s opening price for AXTI stock was $5.32. The firm’s market capitalization is currently valued at $231.70 million, its P/E ratio stands at 13.30, and its beta stands at 1.89. The company’s simple moving average for the past 50 days is $5.50, and the simple moving average for the past 200 days is $6.47. AXT has reached a low of $4.17 over the past year and a high of $9.94 during the past year.
AXT, Inc. is a firm specializing in developing compound and single-element semiconductor substrates, as well as their design, manufacturing, and retail sales. It utilizes its proprietary vertical gradient freeze process to produce semiconductor substrates. Indium phosphide for use in data centers via light or lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifiers and switching, infrared light-emitting diode (LED) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging are all products that the company sells. Indium phosphide is a semiconductor material.