Brokerages Anticipate AXT, Inc. (NASDAQ:AXTI) to Post $0.08 EPS

Wall Street analysts expect AXT, Inc. (NASDAQ:AXTIGet Rating) to announce $0.08 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for AXT’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.09. AXT reported earnings of $0.10 per share in the same quarter last year, which indicates a negative year over year growth rate of 20%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that AXT will report full-year earnings of $0.37 per share for the current year, with EPS estimates ranging from $0.35 to $0.39. For the next fiscal year, analysts forecast that the business will post earnings of $0.57 per share, with EPS estimates ranging from $0.56 to $0.58. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for AXT.

AXT (NASDAQ:AXTIGet Rating) last released its earnings results on Thursday, April 28th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $39.65 million for the quarter, compared to analysts’ expectations of $39.17 million. AXT had a return on equity of 6.41% and a net margin of 9.83%. During the same period in the prior year, the firm posted $0.08 earnings per share.

AXTI has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of AXT in a research note on Wednesday, March 9th. B. Riley cut their target price on AXT from $9.50 to $8.00 in a research note on Friday, April 29th. StockNews.com upgraded AXT from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. Northland Securities decreased their price objective on AXT from $15.00 to $12.00 in a report on Friday, April 29th. Finally, Zacks Investment Research raised AXT from a “sell” rating to a “hold” rating in a report on Monday, May 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, AXT has a consensus rating of “Hold” and a consensus target price of $9.88.

Shares of AXTI stock opened at $5.86 on Friday. The company has a market capitalization of $251.69 million, a price-to-earnings ratio of 17.76 and a beta of 2.09. AXT has a one year low of $4.97 and a one year high of $12.35. The company’s 50-day moving average is $6.02 and its 200 day moving average is $7.22.

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of AXT by 89.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,838,760 shares of the semiconductor company’s stock valued at $15,317,000 after purchasing an additional 867,100 shares during the last quarter. Needham Investment Management LLC increased its position in shares of AXT by 62.9% during the 4th quarter. Needham Investment Management LLC now owns 1,547,850 shares of the semiconductor company’s stock valued at $13,637,000 after purchasing an additional 597,850 shares during the last quarter. Royce & Associates LP increased its position in shares of AXT by 20.1% during the 4th quarter. Royce & Associates LP now owns 1,086,100 shares of the semiconductor company’s stock valued at $9,569,000 after purchasing an additional 181,500 shares during the last quarter. Granahan Investment Management Inc. MA increased 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 valued at $6,337,000 after purchasing an additional 164,871 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of AXT during the 3rd quarter valued at approximately $1,258,000. 53.51% of the stock is currently owned by institutional investors and hedge funds.

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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