Needham Upgrades AXT Inc to Buy

Brokerage firm Needham Upgrades its rating on AXT Inc(NASDAQ:AXTI). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Needham was issued on Jul 28, 2016.

In a different note, On May 3, 2016, Craig-Hallum said it Upgrades its rating on AXT Inc. The shares have been rated ‘Buy’ by the firm.

AXT Inc (AXTI) made into the market gainers list on Thursdays trading session with the shares advancing 1.07% or 0.04 points. Due to strong positive momentum, the stock ended at $3.78, which is also near the day’s high of $3.82. The stock began the session at $3.75 and the volume stood at 1,66,682 shares. The 52-week high of the shares is $4.01 and the 52 week low is $1.9. The company has a current market capitalization of $122 M and it has 3,23,41,176 shares in outstanding.

AXT Inc(AXTI) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $20.50M. Analysts had an estimated revenue of $19.97M. Earnings per share were $0.03. Analysts had estimated an EPS of $0.01.

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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