AXT (NASDAQ:AXTI – Get Rating) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01, MarketWatch Earnings reports. AXT had a net margin of 10.61% and a return on equity of 6.72%. During the same quarter in the prior year, the company earned $0.08 EPS.
AXT stock traded down $0.05 during midday trading on Friday, hitting $5.90. 229,286 shares of the stock were exchanged, compared to its average volume of 121,292. AXT has a 1 year low of $5.68 and a 1 year high of $12.35. The firm has a market cap of $253.41 million, a P/E ratio of 17.88 and a beta of 2.12. The company has a 50 day moving average price of $6.80 and a two-hundred day moving average price of $7.75.
A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in AXT by 141.0% during the 4th quarter. Barclays PLC now owns 49,137 shares of the semiconductor company’s stock worth $433,000 after buying an additional 28,745 shares during the period. BlackRock Inc. increased its stake in AXT by 1.2% during the 4th quarter. BlackRock Inc. now owns 2,722,343 shares of the semiconductor company’s stock worth $23,985,000 after buying an additional 33,586 shares during the period. Goldman Sachs Group Inc. increased its stake in AXT by 59.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 75,590 shares of the semiconductor company’s stock worth $666,000 after buying an additional 28,190 shares during the period. MetLife Investment Management LLC increased its stake in AXT by 276.3% during the 4th quarter. MetLife Investment Management LLC now owns 14,329 shares of the semiconductor company’s stock worth $126,000 after buying an additional 10,521 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new stake in AXT during the 4th quarter worth $507,000. 53.58% of the stock is currently owned by hedge funds and other institutional investors.
AXTI has been the topic of a number of recent analyst reports. B. Riley cut their price target on shares of AXT from $9.50 to $8.00 in a research note on Friday. Zacks Investment Research downgraded shares of AXT from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of AXT in a research note on Wednesday, March 9th. StockNews.com assumed coverage on shares of AXT in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Northland Securities cut their target price on shares of AXT from $15.00 to $12.00 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.31.
AXT Company Profile (Get Rating)
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.
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