Separately, Zacks Investment Research downgraded shares of AXT from a buy rating to a hold rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $5.38.
AXTI traded down $0.05 during trading on Thursday, hitting $4.11. The stock had a trading volume of 106,209 shares, compared to its average volume of 192,543. The stock has a market capitalization of $166.82 million, a price-to-earnings ratio of 17.13, a PEG ratio of 3.36 and a beta of 1.46. AXT has a 12 month low of $3.55 and a 12 month high of $8.00. The company has a 50 day simple moving average of $4.07.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its holdings in shares of AXT by 507.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 6,625 shares during the period. Eidelman Virant Capital bought a new position in shares of AXT during the 2nd quarter worth about $59,000. Brinker Capital Inc. increased its holdings in shares of AXT by 299.2% during the 1st quarter. Brinker Capital Inc. now owns 45,823 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 34,345 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of AXT during the 4th quarter worth about $209,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of AXT during the 1st quarter worth about $251,000. Hedge funds and other institutional investors own 57.61% of the company’s stock.
AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.
Further Reading: What are the disadvantages of after-hours trading?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.