Northland Reiterates its Outperform rating on AXT, Inc. (AXTI)

AXT, Inc. (NASDAQ:AXTI) is one of the 10 Best Under-the-Radar Stocks to Invest In.

On June 25, Northland reiterated its Outperform rating on AXT, Inc. (NASDAQ:AXTI). The firm maintained its recently increased $125 price target. In an investor note, Northland said investors should buy the recent pullback following the company’s “very positive” appearance at the firm’s NCM Growth Conference.

Earlier, on June 18, AXT, Inc. (NASDAQ:AXTI) disclosed that its subsidiary, Beijing Tongmei Xtal Technology, entered a long-term supply agreement with Nanjing Casela Technologies. Under the deal, Tongmei will reserve production capacity and allocate raw materials. It will also grant supply priority in exchange for Casela’s commitment to purchase a fixed quantity of indium phosphide wafer substrates during 2027. The agreement is worth $25.4 million, with monthly deliveries scheduled throughout the year. Casela must purchase at least 80% of the committed volume or pay a cancellation fee on any remaining unpurchased quantity, the company said.

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AXT, Inc. (NASDAQ:AXTI) designs, develops, manufactures, and distributes compound and single-element semiconductor substrates. It also sells specialty material substrates and raw materials.

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