In a report released today, Gus Richard from Northland Securities maintained a Buy rating on AXT Inc (AXTI), with a price target of $7. The company’s shares closed yesterday at $4.17, close to its 52-week low of $3.55.
Richard commented:
“We expect cash to remain close to current levels in 2H:19 as Company invests another $12M into its new facilities. Accounts receivable declined to $18.3M down from $19.6M as DSO dropped to 67 days from 88 days. Inventory declined $53M as days of inventory decreased to 281 days down from 357 days Q/Q. Quality of earnings was high.”
According to TipRanks.com, Richard is a 5-star analyst with an average return of 23.8% and a 67.9% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, SolarEdge Technologies, and Akoustis Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AXT Inc with a $7 average price target.
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Based on AXT Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.1 million. In comparison, last year the company had a net profit of $3.9 million.
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AXT, Inc. engages in the design, development, manufacture, and distribution of compound and single element semiconductor substrates. It also sells specialty material substrates and raw materials used to make substrates and other related products. The company was founded by Morris S. Young and Davis Zhang in December 1986 and is headquartered in Fremont, CA.
