Needham & Company Reiterates a 'Buy' on AXT, Inc. (AXTI); Despite Lowering Our Numbers, We Believe the Stock Looks Cheap on Recent Pullback
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Price: $81.64 +5.41%
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on AXT, Inc. (NASDAQ: AXTI) price target lowered from $11 to $9.
Needham analyst says, "We believe the recent pull back of AXTI share price already discounted weaker raw material prices and slower end demand due to macro issues. While we are cutting our forward estimates based on a more conservative outlook, at a 2012 P/E of just 7X, we note that AXTI’s valuation is below most semiconductor material and compound semiconductor companies. We believe AXTI remains well positioned to benefit from long-term unit growth in mobile, LED, fiber optics and solar. Additionally, with a better cost structure, we believe AXTI has room to gain additional share in the space."
For more ratings news on AXT, Inc. click here and for the rating history of AXT, Inc. click here.
Shares of AXT, Inc. closed at $5.20 yesterday.
Needham analyst says, "We believe the recent pull back of AXTI share price already discounted weaker raw material prices and slower end demand due to macro issues. While we are cutting our forward estimates based on a more conservative outlook, at a 2012 P/E of just 7X, we note that AXTI’s valuation is below most semiconductor material and compound semiconductor companies. We believe AXTI remains well positioned to benefit from long-term unit growth in mobile, LED, fiber optics and solar. Additionally, with a better cost structure, we believe AXTI has room to gain additional share in the space."
For more ratings news on AXT, Inc. click here and for the rating history of AXT, Inc. click here.
Shares of AXT, Inc. closed at $5.20 yesterday.
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