AXT Inc (AXTI) is Upgraded by Needham to Buy, Price Target at $5.50

AXT Inc (AXTI) was Upgraded by Needham to ” Buy” and the brokerage firm has set the Price Target at $5.50. Earlier the firm had a rating of “Hold ” on the company shares. Needham advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on AXT Inc. AXT Inc was Upgraded by Craig Hallum to ” Buy” on May 3, 2016.

On the company’s financial health, AXT Inc reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.02. The company had revenue of $20.50 million for the quarter, compared to analysts expectations of $19.97 million. The company’s revenue was down -2.4 % compared to the same quarter last year.

AXT Inc opened for trading at $4 and hit $4.01 on the upside on Thursday, eventually ending the session at $3.78, with a gain of 3.28% or 0.12 points. The heightened volatility saw the trading volume jump to 7,69,280 shares. Company has a market cap of $122 M.

AXT Inc. (AXT) is a developer and producer of compound and single element semiconductor substrates. Through its subsidiaries the Company manufactures its semiconductor substrates using the vertical gradient freeze (VGF) technology. AXT manufactures its products in the People’s Republic of China (PRC). The Company’s compound substrates combine gallium with arsenic (GaAs) or combine indium with phosphorous (InP). Its single-element substrates are made from germanium (Ge). The Company designs develops manufactures and distributes high-performance semiconductor substrates also known as wafers. The Company’s substrate products include GaAs (semi-insulating) GaAs (semi-conducting) InP and Ge which is used in Satellite and terrestrial solar cells and Optical applications.


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