Brokerages predict that AXT Inc (NASDAQ:AXTI) will report earnings of $0.05 per share for the current quarter, Zacks reports. Five analysts have made estimates for AXT’s earnings. AXT reported earnings per share of $0.03 during the same quarter last year, which suggests a positive year over year growth rate of 66.7%. The company is expected to issue its next earnings report on Wednesday, July 26th.
On average, analysts expect that AXT will report full-year earnings of $0.20 per share for the current financial year, with EPS estimates ranging from $0.18 to $0.24. For the next fiscal year, analysts forecast that the firm will report earnings of $0.32 per share, with EPS estimates ranging from $0.29 to $0.39. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for AXT.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, April 26th. The semiconductor company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The company had revenue of $20.60 million for the quarter, compared to analyst estimates of $18.45 million. AXT had a return on equity of 1.62% and a net margin of 2.75%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis.
Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of AXT in a report on Thursday, March 16th. B. Riley cut AXT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.25 to $7.00 in a report on Friday, March 17th. Finally, Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Friday, February 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. AXT presently has an average rating of “Buy” and a consensus target price of $8.13.
AXT (AXTI) traded up 8.53% during trading on Monday, hitting $7.00. The company had a trading volume of 700,818 shares. AXT has a 1-year low of $2.95 and a 1-year high of $8.65. The stock has a market capitalization of $267.79 million, a price-to-earnings ratio of 37.63 and a beta of 1.25. The company’s 50 day moving average price is $6.78 and its 200-day moving average price is $6.05.
In other AXT news, Director Leonard J. Leblanc sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.27, for a total value of $36,350.00. Following the completion of the sale, the director now owns 149,134 shares in the company, valued at approximately $1,084,204.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert G. Ochrym sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $6.93, for a total value of $51,975.00. Following the completion of the sale, the vice president now owns 39,000 shares of the company’s stock, valued at approximately $270,270. The disclosure for this sale can be found here. Company insiders own 7.29% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AXTI. Gotham Asset Management LLC acquired a new stake in AXT during the first quarter valued at $101,000. Dynamic Technology Lab Private Ltd acquired a new stake in AXT during the fourth quarter valued at $104,000. SG Americas Securities LLC acquired a new stake in AXT during the first quarter valued at $105,000. A.R.T. Advisors LLC acquired a new stake in AXT during the fourth quarter valued at $108,000. Finally, Sanctuary Wealth Advisors LLC acquired a new stake in AXT during the first quarter valued at $116,000. Institutional investors and hedge funds own 46.97% of the company’s stock.
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AXT Company Profile
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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