AXT (NASDAQ:AXTI – Get Rating) had its price objective boosted by Needham & Company LLC from $6.00 to $8.00 in a research note issued to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.
AXTI has been the subject of a number of other research reports. B. Riley dropped their target price on shares of AXT from $5.50 to $5.00 and set a neutral rating for the company in a report on Friday. StockNews.com raised AXT from a sell rating to a hold rating in a report on Wednesday, November 30th. Finally, Craig Hallum cut AXT from a buy rating to a hold rating and dropped their price target for the company from $7.00 to $5.50 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $8.92.
Get AXT alerts:AXTI stock opened at $4.88 on Friday. The firm has a 50 day moving average of $5.26 and a 200 day moving average of $6.07. The stock has a market capitalization of $212.52 million, a PE ratio of 13.56 and a beta of 2.06. AXT has a 52 week low of $4.17 and a 52 week high of $9.94.
Large investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC acquired a new position in AXT during the second quarter valued at approximately $26,000. Lazard Asset Management LLC acquired a new position in shares of AXT in the 2nd quarter valued at approximately $43,000. American Century Companies Inc. acquired a new position in shares of AXT in the 4th quarter valued at approximately $44,000. Barclays PLC grew its position in shares of AXT by 542.4% in the 4th quarter. Barclays PLC now owns 11,049 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 9,329 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in AXT in the 4th quarter valued at approximately $49,000. Institutional investors own 55.52% of the company’s stock.
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AXT, Inc engages in the design, development, manufacture and distribution of compound and single element semiconductor substrates. It also sells specialty material substrates and raw materials used to make substrates and other related products. The company was founded by Morris S. Young and Davis Zhang in 1986 and is headquartered in Fremont, CA.
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