AXT (NASDAQ:AXTI – Get Rating) was downgraded by Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports. They currently have a $5.50 price objective on the semiconductor company’s stock, down from their prior price objective of $7.00. Craig Hallum’s target price suggests a potential upside of 12.70% from the company’s current price.
AXTI has been the subject of a number of other research reports. Needham & Company LLC dropped their price objective on AXT from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, October 28th. B. Riley dropped their price objective on AXT from $6.50 to $5.50 in a research report on Friday, October 28th. Finally, StockNews.com upgraded AXT from a “sell” rating to a “hold” rating in a report on Wednesday, November 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AXT currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.58.
Get AXT alerts:AXT stock opened at $4.88 on Friday. The stock has a market cap of $212.52 million, a PE ratio of 13.56 and a beta of 2.06. The stock has a 50-day moving average price of $5.27 and a 200 day moving average price of $6.12. AXT has a 52 week low of $4.17 and a 52 week high of $9.94.
Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in shares of AXT in the 2nd quarter valued at about $154,000. Oberweis Asset Management Inc. acquired a new position in shares of AXT in the 3rd quarter valued at about $1,467,000. Redmond Asset Management LLC lifted its stake in shares of AXT by 105.8% in the 3rd quarter. Redmond Asset Management LLC now owns 226,288 shares of the semiconductor company’s stock valued at $1,516,000 after purchasing an additional 116,307 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of AXT in the 3rd quarter valued at about $195,000. Finally, Lazard Asset Management LLC acquired a new position in AXT during the 2nd quarter worth approximately $43,000. 55.52% of the stock is owned by institutional investors and hedge funds.
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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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