AXT (AXTI) Raised to “Buy” at BidaskClub
BidaskClub upgraded shares of AXT (NASDAQ:AXTI) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.
AXTI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of AXT from a hold rating to a buy rating and set a $9.75 price target on the stock in a research note on Wednesday, December 27th. B. Riley raised their price target on shares of AXT from $8.50 to $8.75 and gave the company a neutral rating in a research note on Thursday, October 26th. Finally, Needham & Company LLC restated a buy rating and issued a $11.00 price target (up from $10.00) on shares of AXT in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. AXT presently has a consensus rating of Buy and a consensus target price of $10.38.
AXT (NASDAQ AXTI) traded up $0.30 during mid-day trading on Wednesday, reaching $8.30. 244,500 shares of the company’s stock traded hands, compared to its average volume of 385,895. AXT has a 52-week low of $5.10 and a 52-week high of $10.75. The company has a market cap of $311.13, a price-to-earnings ratio of 33.33, a P/E/G ratio of 1.06 and a beta of 1.01.
A number of large investors have recently bought and sold shares of AXTI. Voya Investment Management LLC acquired a new stake in AXT during the 2nd quarter worth approximately $100,000. Capital Fund Management S.A. acquired a new stake in AXT during the 4th quarter worth approximately $126,000. Gotham Asset Management LLC boosted its position in AXT by 35.5% during the 2nd quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock worth $150,000 after buying an additional 6,182 shares during the period. Nationwide Fund Advisors boosted its position in AXT by 278.0% during the 2nd quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock worth $180,000 after buying an additional 20,892 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in AXT by 15,013.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock worth $192,000 after buying an additional 30,026 shares during the period. Institutional investors and hedge funds own 58.93% 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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