Analysts Anticipate AXT, Inc. (NASDAQ:AXTI) Will Post Quarterly Sales of $40.30 Million

Wall Street analysts forecast that AXT, Inc. (NASDAQ:AXTIGet Rating) will report $40.30 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for AXT’s earnings, with the lowest sales estimate coming in at $39.80 million and the highest estimate coming in at $41.00 million. AXT reported sales of $33.74 million in the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that AXT will report full-year sales of $163.60 million for the current year, with estimates ranging from $161.82 million to $166.38 million. For the next year, analysts expect that the firm will report sales of $182.95 million, with estimates ranging from $179.50 million to $186.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow AXT.

AXT (NASDAQ:AXTIGet Rating) last announced its earnings results on Thursday, April 28th. The semiconductor company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. AXT had a net margin of 9.83% and a return on equity of 6.41%. During the same period in the prior year, the company earned $0.08 EPS.

A number of equities analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of AXT in a research report on Wednesday, March 9th. StockNews.com upgraded AXT from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research lowered AXT from a “buy” rating to a “sell” rating in a report on Tuesday, May 3rd. B. Riley cut their price objective on AXT from $9.50 to $8.00 in a research report on Friday, April 29th. Finally, Northland Securities lowered their target price on shares of AXT from $15.00 to $12.00 in a research report on Friday, April 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.88.

Hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co NY lifted its position in shares of AXT by 98.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,179 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 5,038 shares during the period. Granahan Investment Management Inc. MA lifted its position in shares of AXT by 27.7% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 760,769 shares of the semiconductor company’s stock worth $6,337,000 after buying an additional 164,871 shares during the last quarter. SG Americas Securities LLC acquired a new stake in AXT during the 3rd quarter worth $200,000. Two Sigma Investments LP lifted its stake in shares of AXT by 17.9% in the third quarter. Two Sigma Investments LP now owns 212,240 shares of the semiconductor company’s stock valued at $1,768,000 after purchasing an additional 32,171 shares during the period. Finally, Marshall Wace LLP purchased a new position in AXT during the 3rd quarter valued at about $141,000. 53.51% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:AXTI opened at $5.47 on Monday. AXT has a fifty-two week low of $5.00 and a fifty-two week high of $12.35. The stock’s fifty day moving average is $6.49 and its 200 day moving average is $7.55. The firm has a market capitalization of $234.95 million, a PE ratio of 16.58 and a beta of 2.09.

About AXT (Get Rating)

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

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