Zacks: Analysts Expect AXT Inc (AXTI) Will Announce Earnings of $0.05 Per Share
Brokerages expect that AXT Inc (NASDAQ:AXTI) will announce earnings of $0.05 per share for the current quarter, Zacks reports. Five analysts have made estimates for AXT’s earnings. AXT reported earnings of $0.03 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 66.7%. The business is expected to report its next quarterly earnings results on Wednesday, July 26th.
On average, analysts expect that AXT will report full year earnings of $0.20 per share for the current year, with EPS estimates ranging from $0.18 to $0.24. For the next year, analysts forecast that the business will post earnings of $0.32 per share, with EPS estimates ranging from $0.29 to $0.39. Zacks’ EPS averages are an average based on a survey of research analysts that cover AXT.
AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, April 26th. The semiconductor company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. AXT had a return on equity of 4.37% and a net margin of 7.52%. The firm had revenue of $20.60 million for the quarter, compared to the consensus estimate of $18.45 million. AXT’s revenue for the quarter was up 10.2% on a year-over-year basis.
Several brokerages recently weighed in on AXTI. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Tuesday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $8.50 target price on shares of AXT in a research report on Thursday, March 16th. BWS Financial initiated coverage on shares of AXT in a research note on Tuesday, April 11th. They set a “buy” rating and a $10.00 target price on the stock. B. Riley upgraded AXT from a “neutral” rating to a “buy” rating in a report on Monday, March 27th. Finally, Dougherty & Co reiterated a “buy” rating on shares of AXT in a report on Saturday, June 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. AXT currently has an average rating of “Buy” and a consensus target price of $8.13.
In related news, Director Leonard J. Leblanc sold 5,000 shares of the business’s 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 of the company’s stock, valued at approximately $1,084,204.18. The sale 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 business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were 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 directly owns 39,000 shares of the company’s stock, valued at approximately $270,270. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of AXTI. Gotham Asset Management LLC acquired a new position in shares of AXT during the first quarter valued at $101,000. Dynamic Technology Lab Private Ltd acquired a new stake in AXT during the fourth quarter worth about $104,000. SG Americas Securities LLC acquired a new stake in AXT during the first quarter valued at approximately $105,000. A.R.T. Advisors LLC acquired a new stake in AXT during the fourth quarter valued at approximately $108,000. Finally, Sanctuary Wealth Advisors LLC acquired a new stake in AXT during the first quarter valued at approximately $116,000. 54.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AXT (AXTI) traded down 1.52% on Thursday, reaching $6.50. The company had a trading volume of 31,321 shares. AXT has a 12 month low of $2.95 and a 12 month high of $8.65. The stock has a 50 day moving average price of $6.80 and a 200-day moving average price of $6.16. The company has a market capitalization of $248.66 million, a price-to-earnings ratio of 34.95 and a beta of 0.99.
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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