AXT (AXTI) Shares Down 7.8%

AXT (AXTI)  Shares Down 7.8%

AXT Inc (NASDAQ:AXTI)’s share price was down 7.8% on Thursday . The company traded as low as $4.10 and last traded at $4.15. Approximately 918,411 shares traded hands during trading, an increase of 63% from the average daily volume of 562,005 shares. The stock had previously closed at $4.50.

A number of equities analysts recently weighed in on AXTI shares. Zacks Investment Research upgraded shares of AXT from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th. TheStreet lowered shares of AXT from a “b-” rating to a “c+” rating in a report on Thursday, December 27th. ValuEngine lowered shares of AXT from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Finally, BidaskClub upgraded shares of AXT from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. AXT presently has an average rating of “Hold” and a consensus price target of $9.00.

The firm has a market cap of $171.99 million, a price-to-earnings ratio of 15.96, a PEG ratio of 0.67 and a beta of 1.31.

AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $28.63 million for the quarter, compared to analyst estimates of $28.14 million. AXT had a net margin of 13.00% and a return on equity of 7.32%. AXT’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. As a group, sell-side analysts expect that AXT Inc will post 0.34 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Putnam Investments LLC acquired a new stake in shares of AXT during the 3rd quarter worth about $1,118,000. Pacific Ridge Capital Partners LLC boosted its stake in shares of AXT by 6.3% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 791,219 shares of the semiconductor company’s stock worth $5,657,000 after purchasing an additional 46,741 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of AXT by 9.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 498,435 shares of the semiconductor company’s stock worth $3,564,000 after purchasing an additional 41,654 shares during the last quarter. Royce & Associates LP boosted its stake in shares of AXT by 10.8% during the 3rd quarter. Royce & Associates LP now owns 1,860,584 shares of the semiconductor company’s stock worth $13,303,000 after purchasing an additional 180,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AXT by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,320,596 shares of the semiconductor company’s stock worth $23,742,000 after purchasing an additional 39,600 shares during the last quarter. Institutional investors own 54.23% of the company’s stock.

About AXT (NASDAQ:AXTI)

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures 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, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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