In a study released on Friday, the financial analysts at B. Riley lowered the price objective for AXT (NASDAQ: AXTI) from $5.50 to $5.00.
This information was provided in a report that The Fly produced.
According to the price target provided by B. Riley, the stock would have experienced a decrease of 15.25 percent from where it had been trading previously.
Over the past few months, AXTI has successfully attracted the attention of several other research companies. Craig Hallum, the author of a research note published on Friday, reversed his previous recommendation of “buy” for AXT stock and replaced it with a recommendation of “hold.” It was announced on Wednesday, November 30th, that StockNews.com had upgraded its rating on shares of AXT from “sell” to “hold” in a research report made available to the public that same day.
In a research report made available to the public on Friday, October 28th, Needham & Company LLC lowered their price objective for the company while maintaining their “buy” rating for the stock.
This was the final and most significant change that took place.
The company has been given a “hold” rating by three analysts, while four others have given it a “buy” rating.
The consensus rating for the company is “hold.” According to Bloomberg.com, the current average rating for the company is “Moderate Buy,” and the website’s price objective is $8.83.
In addition, Bloomberg.com reports that users have rated the company positively overall.
When trading started on Friday, an individual share of AXTI was $5.90.
The stock is currently trading at $5.27, which places it below both the 50-day and the 200-day simple moving averages, which are currently located at $6.17 and $8.27, respectively.
During the last 52 weeks, the price of AXT has fluctuated between $4.17 and $9.94, reaching a low of $4.17 and a high of $9.94.
The company has a price-to-earnings ratio of 14.75, a beta value of 2.06, and a market value of $256.95 million.
These figures can be used to characterize the company.
In recent months, several hedge funds have modified their current approaches to investing in AXTI to take advantage of new opportunities. Granahan Investment Management LLC increased the amount of AXT it held at the end of the third quarter by 41.1%. Granahan Investment Management LLC increased its semiconductor company’s shares by purchasing an additional 417,483 of those during the most recent quarter.
This resulted in a 41.1% increase in AXT that Granahan Investment Management LLC held at the end of the third quarter.
As a direct consequence of these acquisitions, the organization now holds 1,433,444 shares of the company’s stock, which has a value of $6,278,000.
During the final quarter of 2018, Needham Investment Management LLC increased the total amount of AXT that it held by 18.2% from the previous quarter. Needham Investment Management LLC now has a total of 1,460,450 shares of the semiconductor company’s stock, which are worth a total of $6,397,000 after the purchase of an additional 225,000 shares during the preceding quarter.
The company purchased these shares.
The Oberweis Asset Management INC investment in AXT increased during the third quarter by purchasing additional shares at a total cost of approximately 1,467,000.
During the third quarter of the fiscal year, First Wilshire Securities Management INC increased the percentage of AXT in its portfolio by 46.9%. First Wilshire Securities Management INC now owns a total of 489,825 shares of the semiconductor company’s stock, which has a market value of $3,282,000 after purchasing an additional 156,457 shares during the most recent quarter. First, Wilshire Securities Management Inc purchased the stock. Finally, during the final three months of the year, Dimensional Fund Advisors LP completed a 3.8% increase in the amount of AXT stock held in its portfolio.
After making an additional purchase of 116,977 shares during the most recent quarter, Dimensional Fund Advisors LP now has a total of 3,173,175 shares of the semiconductor company’s stock in its possession.
The price of one share of stock is currently $13,899,000. Currently, 55.52% of the company’s shares are owned by hedge funds and other institutional investors.
In addition to the formulation, production, and distribution of compound and single-element semiconductor substrates and the design and creation of these products, AXT, INC, is recognized as a leader in the industry.
In addition, it offers its customers a wide selection of specialized substrates, raw materials, and various other products related to substrates.
The business was established in 1986 by Morris S. Young and Davis Zhang, and it continues to run out of its headquarters in Fremont, which is situated within the boundaries of the state of California.
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According to Bloomberg Ratings, the eight research firms following AXT, INC (NASDAQ: AXTI) have given the stock an average rating of “Moderate Buy.” The research firms gave this rating. The stock has been given a rating of “buy” by four of the research analysts have rated the stock as ” buy, ” while one recommended that investors maintain their holdings in the stock. This price target has been established as the average price goal for the share price over the next 12 months. Craig Hallum stated in a report that was released on November 1st that they have decreased their target price for AXT to $7.00. The simple moving average price of the company’s shares over the past 50 days is $5.09, while the average price over the last 200 days is $6.22.1 month ago Best Stocks
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