Northland Securities Trims AXT (NASDAQ:AXTI) Target Price to $12.00

AXT (NASDAQ:AXTIGet Rating) had its target price dropped by investment analysts at Northland Securities from $15.00 to $12.00 in a research note issued to investors on Friday, The Fly reports. Northland Securities’ target price would suggest a potential upside of 101.68% from the company’s current price.

A number of other brokerages have also issued reports on AXTI. Wedbush restated an “outperform” rating and issued a $13.00 price target on shares of AXT in a research note on Wednesday, March 9th. Zacks Investment Research downgraded shares of AXT from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. StockNews.com initiated coverage on shares of AXT in a report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, B. Riley decreased their price objective on shares of AXT from $9.50 to $8.00 in a report on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.31.

AXTI opened at $5.95 on Friday. The firm has a market capitalization of $255.56 million, a P/E ratio of 17.50 and a beta of 2.12. The firm’s 50 day moving average is $6.83 and its 200-day moving average is $7.77. AXT has a 52-week low of $5.68 and a 52-week high of $12.35.

AXT (NASDAQ:AXTIGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. AXT had a net margin of 10.61% and a return on equity of 6.72%. During the same period last year, the firm earned $0.08 earnings per share. As a group, analysts forecast that AXT will post 0.38 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY boosted its holdings in shares of AXT by 98.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 10,179 shares of the semiconductor company’s stock valued at $85,000 after acquiring an additional 5,038 shares during the period. Granahan Investment Management Inc. MA boosted its holdings in shares of AXT by 27.7% during the third quarter. Granahan Investment Management Inc. MA now owns 760,769 shares of the semiconductor company’s stock valued at $6,337,000 after acquiring an additional 164,871 shares during the period. SG Americas Securities LLC acquired a new position in shares of AXT during the third quarter valued at $200,000. Two Sigma Investments LP boosted its holdings in shares of AXT by 17.9% during the third quarter. Two Sigma Investments LP now owns 212,240 shares of the semiconductor company’s stock valued at $1,768,000 after acquiring an additional 32,171 shares during the period. Finally, Marshall Wace LLP acquired a new stake in AXT in the third quarter worth about $141,000. 53.58% of the stock is owned by institutional investors.

AXT Company Profile (Get Rating)

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

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