AXT (NASDAQ:AXTI) Now Covered by StockNews.com

Research analysts at StockNews.com started coverage on shares of AXT (NASDAQ:AXTIGet Rating) in a report issued on Thursday. The firm set a “sell” rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on the company. Craig Hallum lowered AXT from a “buy” rating to a “hold” rating and cut their target price for the company from $7.00 to $5.50 in a research report on Friday, February 17th. B. Riley cut their target price on AXT from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, February 17th. Finally, Needham & Company LLC upped their target price on AXT from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, February 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, AXT has an average rating of “Hold” and a consensus target price of $8.10.

AXT Price Performance

Shares of AXT stock opened at $3.76 on Thursday. AXT has a one year low of $3.48 and a one year high of $9.94. The stock’s 50-day moving average is $5.10 and its 200 day moving average is $5.43. The firm has a market cap of $163.76 million, a price-to-earnings ratio of 10.44 and a beta of 2.11.

Insider Transactions at AXT

In other news, Director Jesse Chen sold 7,500 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $4.45, for a total value of $33,375.00. Following the completion of the transaction, the director now directly owns 107,520 shares of the company’s stock, valued at $478,464. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.03% of the company’s stock.

Institutional Investors Weigh In On AXT

Several large investors have recently added to or reduced their stakes in AXTI. JPMorgan Chase & Co. raised its position in AXT by 14.2% during the second quarter. JPMorgan Chase & Co. now owns 21,781 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 2,710 shares in the last quarter. Brinker Capital Investments LLC raised its position in AXT by 13.1% during the third quarter. Brinker Capital Investments LLC now owns 23,684 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 2,741 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in AXT by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,834 shares of the semiconductor company’s stock valued at $477,000 after purchasing an additional 3,220 shares in the last quarter. Occudo Quantitative Strategies LP raised its position in AXT by 20.2% during the second quarter. Occudo Quantitative Strategies LP now owns 21,554 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 3,620 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of AXT in the second quarter worth about $26,000. Institutional investors own 55.52% of the company’s stock.

AXT Company Profile

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AXT, Inc engages in the design, development, manufacture and distribution of compound and single element semiconductor substrates. It also sells specialty material substrates and raw materials used to make substrates and other related products. The company was founded by Morris S. Young and Davis Zhang in 1986 and is headquartered in Fremont, CA.

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Analyst Recommendations for AXT (NASDAQ:AXTI)

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