Wedbush Reaffirms Outperform Rating for AXT (AXTI) with Price Target of $5.50

AXT (NASDAQ:AXTI) has received a reaffirmed "outperform" rating from investment analysts at Wedbush in a research note released on Friday. The firm has set a price target of $5.50 on the stock of this semiconductor company. This target price implies a substantial potential upside of approximately 161.90% from AXT's current trading price.

Along with Wedbush, several other equity research analysts have recently expressed their views on AXT. Needham & Company LLC has reiterated a "buy" rating on the shares, assigning a price target of $5.00. In a similar vein, Northland Securities has adjusted its price target on AXT from $6.00 to $5.00, maintaining an "outperform" rating. Currently, while one analyst has rated the stock as a sell, five others have issued buy ratings. According to MarketBeat.com, AXT has an overall average rating of "Moderate Buy" with an average target price of $5.20.

AXT Stock Performance

As of Friday, shares of AXT experienced a decrease of 3.7%, trading down $0.08 to reach $2.10. The trading volume was 174,529 shares, compared to an average daily volume of 256,085 shares. Over the past year, AXT has seen a low of $1.73 and a high of $5.64. The company's fifty-day moving average stands at $2.19, while the two-hundred-day moving average is at $2.38. AXT currently holds a market capitalization of $93.98 million, with a PE ratio of -8.40 and a beta of 2.08.

AXT's Institutional Trading Activity

Recent movements in institutional trading have also been noteworthy. Systematic Financial Management LP increased its stake in AXT by 13.0% during the third quarter, now holding 1,477,169 shares valued at $3,575,000 after acquiring an additional 169,406 shares. Similarly, White Pine Capital LLC raised its holdings by 0.8% during the fourth quarter, amassing 668,499 shares worth $1,451,000 after adding 5,246 shares. Connor Clark & Lunn Investment Management Ltd. bolstered its position by 10.0% in the third quarter, now holding 606,417 shares valued at $1,468,000 following a purchase of 54,891 additional shares. Geode Capital Management LLC also slightly increased its holdings by 1.7% during the same quarter. As a result of these activities, 49.52% of AXT's stock is owned by institutional investors and hedge funds.

About AXT, Inc.

AXT, Inc. specializes in the design, development, manufacturing, and distribution of both compound and single element semiconductor substrates. Their products serve various applications, including indium phosphide for data center connectivity, high-speed data transmission, 5G communications, and other consumer and industrial devices.

AXT, Wedbush, semiconductor