AXT, Inc. (NASDAQ:AXTI) Receives $5.20 Average PT from Brokerages

AXT, Inc. (NASDAQ:AXTI) has earned a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $5.20.

Several research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of AXT in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $5.50 price objective on shares of AXT in a research note on Friday, February 7th. Finally, Northland Securities lowered their price objective 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.

AXT Stock Up 5.2 %

NASDAQ:AXTI opened at $2.23 on Friday. The stock has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $2.32. The firm has a market capitalization of $99.79 million, a price-to-earnings ratio of -8.92 and a beta of 2.08. AXT has a 1-year low of $1.73 and a 1-year high of $5.64.

Institutional Investors Weigh In On AXT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC grew its holdings in shares of AXT by 65.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company’s stock valued at $4,204,000 after acquiring an additional 766,122 shares in the last quarter. Systematic Financial Management LP boosted its position in AXT by 13.0% during the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after purchasing an additional 169,406 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in AXT in the second quarter valued at about $468,000. Kennedy Capital Management LLC increased its position in AXT by 13.1% in the 4th quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company’s stock worth $1,987,000 after purchasing an additional 106,121 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of AXT during the 4th quarter worth about $145,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

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.