B. Riley Boosts AXT Inc (NASDAQ:AXTI) Price Target to $8.75

AXT Inc (NASDAQ:AXTI) had its target price increased by B. Riley from $8.50 to $8.75 in a research note issued to investors on Thursday, October 26th. They currently have a neutral rating on the semiconductor company’s stock.

AXTI has been the subject of several other reports. BidaskClub lowered shares of AXT from a strong-buy rating to a buy rating in a research report on Monday, August 7th. Zacks Investment Research raised shares of AXT from a hold rating to a buy rating and set a $8.50 price target for the company in a research note on Friday, August 18th. Needham & Company LLC reiterated a buy rating and set a $10.00 price target on shares of AXT in a report on Sunday, September 17th. Finally, BWS Financial raised their target price on shares of AXT from $10.00 to $12.00 and gave the stock a buy rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $9.95.

Shares of AXT (NASDAQ AXTI) opened at $8.75 on Thursday. AXT has a 1-year low of $4.35 and a 1-year high of $9.70. The company has a market cap of $340.30, a P/E ratio of 36.46, a P/E/G ratio of 1.92 and a beta of 1.13.

AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $28.17 million for the quarter, compared to analysts’ expectations of $27.05 million. AXT had a net margin of 9.96% and a return on equity of 5.67%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. equities analysts predict that AXT will post 0.26 earnings per share for the current year.

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In other AXT news, VP Robert G. Ochrym sold 8,125 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $8.80, for a total transaction of $71,500.00. Following the completion of the transaction, the vice president now owns 44,125 shares of the company’s stock, valued at $388,300. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Morris S. Young sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $8.86, for a total transaction of $443,000.00. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in AXT by 12.1% in the 1st quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock valued at $1,252,000 after buying an additional 23,341 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in AXT in the 1st quarter valued at about $173,000. Royce & Associates LP raised its stake in AXT by 13.5% in the 2nd quarter. Royce & Associates LP now owns 918,980 shares of the semiconductor company’s stock valued at $5,836,000 after purchasing an additional 109,237 shares during the last quarter. Rhumbline Advisers acquired a new position in AXT in the 2nd quarter valued at about $253,000. Finally, Goldman Sachs Group Inc. raised its stake in AXT by 216.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 155,687 shares of the semiconductor company’s stock valued at $903,000 after purchasing an additional 106,426 shares during the last quarter. Hedge funds and other institutional investors own 60.56% of the company’s stock.

AXT Company Profile

AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.

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