Analysts Anticipate AXT Inc (AXTI) Will Announce Earnings of $0.05 Per Share
Wall Street analysts predict that AXT Inc (NASDAQ:AXTI) will report earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for AXT’s earnings. AXT posted earnings per share of $0.03 in the same quarter last year, which would indicate a positive year over year growth rate of 66.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes 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 fiscal year, analysts anticipate that the firm will post earnings of $0.32 per share, with EPS estimates ranging from $0.29 to $0.39. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover AXT.
AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, April 26th. The semiconductor company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $20.60 million during the quarter, compared to the consensus estimate of $18.45 million. AXT’s revenue was up 10.2% compared to the same quarter last year.
A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of AXT from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. B. Riley raised shares of AXT from a “neutral” rating to a “buy” rating in a research report on Monday, March 27th. BWS Financial assumed coverage on shares of AXT in a research report on Tuesday, April 11th. They set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC raised their price target on shares of AXT from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Finally, Dougherty & Co reissued 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 five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $8.13.
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In other news, Director Leonard J. Leblanc sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $7.27, for a total value of $36,350.00. Following the transaction, the director now owns 149,134 shares in the company, valued at approximately $1,084,204.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert G. Ochrym sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $6.93, for a total transaction of $51,975.00. Following the completion of the transaction, the vice president now owns 39,000 shares in the company, valued at approximately $270,270. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in AXTI. Kennedy Capital Management Inc. bought a new stake in AXT during the first quarter valued at $6,084,000. Hood River Capital Management LLC bought a new stake in AXT during the first quarter valued at $5,699,000. Driehaus Capital Management LLC bought a new stake in AXT during the first quarter valued at $4,614,000. Northpointe Capital LLC bought a new stake in AXT during the first quarter valued at $4,524,000. Finally, Dimensional Fund Advisors LP raised its stake in AXT by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,593,023 shares of the semiconductor company’s stock valued at $15,040,000 after buying an additional 341,318 shares in the last quarter. Institutional investors own 54.32% of the company’s stock.
AXT (AXTI) traded down 1.656% during mid-day trading on Tuesday, hitting $7.425. The stock had a trading volume of 180,862 shares. The company has a 50-day moving average of $6.73 and a 200-day moving average of $6.47. AXT has a 12-month low of $3.51 and a 12-month high of $8.65. The firm has a market cap of $284.05 million, a PE ratio of 39.919 and a beta of 1.01.
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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