AXT (NASDAQ:AXTI) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of AXT (NASDAQ:AXTI) in a research note issued to investors on Friday,RTT News reports. Wedbush currently has a $5.50 price target on the semiconductor company’s stock.

A number of other brokerages have also weighed in on AXTI. Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of AXT in a research note on Friday, November 1st. Northland Securities lowered their price target on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.20.

AXT Stock Performance

Shares of AXTI opened at $2.10 on Friday. The firm has a market cap of $93.98 million, a P/E ratio of -8.40 and a beta of 2.08. AXT has a 52 week low of $1.73 and a 52 week high of $5.64. The firm’s 50-day simple moving average is $2.19 and its 200 day simple moving average is $2.38.

Institutional Investors Weigh In On AXT

A number of large investors have recently bought and sold shares of the company. Systematic Financial Management LP lifted its holdings in shares of AXT by 13.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock worth $3,575,000 after acquiring an additional 169,406 shares during the period. White Pine Capital LLC increased its stake in shares of AXT by 0.8% in the 4th quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company’s stock valued at $1,451,000 after purchasing an additional 5,246 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of AXT by 10.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock worth $1,468,000 after buying an additional 54,891 shares during the last quarter. Geode Capital Management LLC boosted its stake in AXT by 1.7% in the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock valued at $1,123,000 after buying an additional 7,577 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in AXT by 25.1% during the third quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock worth $730,000 after acquiring an additional 60,623 shares in the last quarter. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Company Profile

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.