AXT (NASDAQ:AXTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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 subject of several other reports. ValuEngine cut AXT from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. BidaskClub cut AXT from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Finally, B. Riley cut their target price on AXT from $10.00 to $8.50 and set a “buy” rating for the company in a research note on Thursday, November 1st. 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 stock. AXT presently has an average rating of “Hold” and a consensus target price of $9.00.

Shares of AXTI stock traded down $0.10 during trading on Thursday, hitting $5.20. The company had a trading volume of 333,002 shares, compared to its average volume of 430,910. The stock has a market cap of $209.55 million, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.14. AXT has a one year low of $5.15 and a one year high of $9.45.

AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. AXT had a return on equity of 7.32% and a net margin of 13.00%. The firm had revenue of $28.63 million during the quarter, compared to analysts’ expectations of $28.14 million. During the same period in the prior year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts predict that AXT will post 0.34 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXTI. MetLife Investment Advisors LLC increased its holdings in shares of AXT by 220.7% during the second quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after buying an additional 13,069 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of AXT by 804.2% during the second quarter. Bank of America Corp DE now owns 31,746 shares of the semiconductor company’s stock worth $223,000 after buying an additional 28,235 shares in the last quarter. PEAK6 Investments LLC acquired a new position in shares of AXT during the third quarter worth $292,000. First Trust Advisors LP acquired a new position in shares of AXT during the third quarter worth $382,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of AXT by 15.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 85,874 shares of the semiconductor company’s stock worth $606,000 after buying an additional 11,200 shares in the last quarter. Hedge funds and other institutional investors own 54.36% of the company’s stock.

AXT Company Profile

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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