AXT (NASDAQ:AXTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “

AXTI has been the topic of a number of other research reports. B. Riley reiterated a “hold” rating and set a $8.50 price target on shares of AXT in a research report on Tuesday, October 24th. BidaskClub downgraded AXT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of AXT in a research report on Sunday, September 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. AXT has an average rating of “Buy” and an average price target of $9.90.

AXT (AXTI) opened at $8.75 on Monday. The stock has a market capitalization of $344.19, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. AXT has a 1 year low of $4.68 and a 1 year high of $10.75.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $28.17 million for the quarter, compared to the consensus estimate of $27.05 million. AXT had a return on equity of 5.67% and a net margin of 9.96%. AXT’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. analysts expect that AXT will post 0.25 earnings per share for the current fiscal year.

In other news, VP Robert G. Ochrym sold 8,125 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $8.80, for a total value of $71,500.00. Following the transaction, the vice president now owns 44,125 shares in the company, valued at $388,300. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Morris S. Young sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $9.76, for a total value of $292,800.00. Following the completion of the transaction, the chief executive officer now owns 1,211,970 shares in the company, valued at approximately $11,828,827.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,375 shares of company stock worth $1,216,235. Company insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP purchased a new position in AXT during the second quarter worth approximately $3,782,000. State Street Corp lifted its position in AXT by 2,392.6% during the second quarter. State Street Corp now owns 461,458 shares of the semiconductor company’s stock worth $2,931,000 after buying an additional 442,945 shares in the last quarter. New York State Common Retirement Fund lifted its position in AXT by 233.8% during the second quarter. New York State Common Retirement Fund now owns 608,093 shares of the semiconductor company’s stock worth $3,861,000 after buying an additional 425,912 shares in the last quarter. Northern Trust Corp lifted its position in AXT by 403.6% during the second quarter. Northern Trust Corp now owns 402,536 shares of the semiconductor company’s stock worth $2,556,000 after buying an additional 322,598 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in AXT by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,877,282 shares of the semiconductor company’s stock worth $18,271,000 after buying an additional 284,259 shares in the last quarter. Institutional investors and hedge funds own 60.36% of the company’s stock.

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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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