Craig Hallum Boosts AXT (NASDAQ:AXTI) Price Target to $5.00

AXT (NASDAQ:AXTI) had its target price increased by Craig Hallum from $3.75 to $5.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the company. StockNews.com lowered AXT from a hold rating to a sell rating in a report on Saturday, March 2nd. Needham & Company LLC reissued a buy rating and set a $5.00 price objective on shares of AXT in a report on Tuesday. Wedbush reissued an outperform rating and set a $6.00 price objective on shares of AXT in a report on Monday. Finally, B. Riley increased their price objective on AXT from $3.80 to $5.50 and gave the company a buy rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $5.30.

AXT Price Performance

Shares of NASDAQ AXTI opened at $3.80 on Tuesday. The business’s 50-day moving average price is $3.80 and its two-hundred day moving average price is $2.85. AXT has a one year low of $1.89 and a one year high of $5.64. The company has a market capitalization of $168.15 million, a P/E ratio of -8.84 and a beta of 2.24.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05. The firm had revenue of $20.43 million for the quarter, compared to the consensus estimate of $17.62 million. AXT had a negative return on equity of 7.80% and a negative net margin of 23.59%. On average, equities analysts anticipate that AXT will post -0.1 EPS for the current year.

Institutional Trading of AXT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in AXT by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 2,500 shares during the last quarter. Brookstone Capital Management acquired a new stake in AXT in the 4th quarter valued at approximately $37,000. Point72 Middle East FZE acquired a new stake in AXT in the 2nd quarter valued at approximately $37,000. Virtu Financial LLC acquired a new stake in AXT in the 4th quarter valued at approximately $37,000. Finally, James Investment Research Inc. acquired a new stake in AXT in the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 49.52% of the company’s stock.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.