AXT (NASDAQ:AXTI) Raised to Hold at ValuEngine

ValuEngine upgraded shares of AXT (NASDAQ:AXTI) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, ValuEngine reports.

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.

AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $24.80 million for the quarter, compared to the consensus estimate of $24.11 million. AXT had a net margin of 3.36% and a return on equity of 1.68%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, analysts forecast that AXT will post 0.08 earnings per share for the current fiscal year.

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.

About AXT

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.

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