Wedbush Reaffirms Outperform Rating for AXT (AXTI)

Wedbush has reaffirmed its "outperform" rating for AXT, Inc. (NASDAQ:AXTI) in a recent research note published on Friday. The analysts have set a target price of $5.50 for the semiconductor company's shares, suggesting a significant potential upside of approximately 161.90% from the stock's current trading price.

Other analysts have also shared their insights on AXT. Needham & Company LLC reiterated a "buy" rating and set a price target of $5.00 on the stock in their report dated November 1st. Meanwhile, Northland Securities adjusted their price target for AXT from $6.00 down to $5.00 while maintaining their "outperform" rating on the shares. Overall, one analyst has given a sell rating, while five analysts have issued buy ratings, leaving AXT with an average rating classified as a "Moderate Buy" and an average target price of $5.20, according to MarketBeat.com.

Current Performance of AXT Stock

During mid-day trading on Friday, shares of AXT experienced a decline of 3.7%, dropping $0.08 to $2.10. The trading volume reached 174,529 shares, compared to the company's average volume of 256,085 shares. Over the past year, AXT has seen a low of $1.73 and a high of $5.64. Currently, the company holds a market capitalization of approximately $93.98 million. It has a price-to-earnings (PE) ratio of -8.40 and a beta of 2.08, reflecting its volatility in the market.

Institutional Investors' Involvement

Recent trading activity shows that several institutional investors and hedge funds have made adjustments to their positions in AXT. Notably, Systematic Financial Management LP increased its holdings by 13.0% during the third quarter, bringing its ownership to 1,477,169 shares valued at around $3,575,000. White Pine Capital LLC slightly raised its stake by 0.8% during the fourth quarter, now owning 668,499 shares valued at approximately $1,451,000. Other firms, such as Connor Clark & Lunn Investment Management Ltd., Geode Capital Management LLC, and GSA Capital Partners LLP, have also increased their positions. Overall, about 49.52% of AXT's stock is currently held by institutional investors.

Overview of AXT, Inc.

AXT, Inc. specializes in designing, developing, manufacturing, and distributing semiconductor substrates, including both single element and compound types. Their product offerings include indium phosphide, which is widely used for applications in data centers, 5G communications, fiber optic lasers, and various consumer devices.

AXT, Stocks, Analysis