AXT Inc (NASDAQ:AXTI) Releases Quarterly Earnings Results, Hits Estimates
AXT Inc (NASDAQ:AXTI) released its quarterly earnings results on Wednesday. The semiconductor company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05, Bloomberg Earnings reports. The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $22.55 million. AXT had a net margin of 7.52% and a return on equity of 4.37%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share.
Shares of AXT (NASDAQ AXTI) traded up 3.40% during trading on Wednesday, reaching $7.60. 722,471 shares of the company were exchanged. The stock has a market capitalization of $290.75 million, a P/E ratio of 40.86 and a beta of 1.01. AXT has a 52-week low of $3.51 and a 52-week high of $8.65. The stock has a 50-day moving average of $6.73 and a 200 day moving average of $6.47.
In related news, VP Robert G. Ochrym sold 7,500 shares of AXT stock in a transaction dated 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 transaction, the vice president now directly owns 39,000 shares of the company’s stock, valued at $270,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard J. Leblanc sold 5,000 shares of AXT stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $7.27, for a total value of $36,350.00. Following the completion of the transaction, the director now directly owns 149,134 shares of the company’s stock, valued at $1,084,204.18. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
Several research firms have recently commented on AXTI. Zacks Investment Research lowered shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. B. Riley restated a “neutral” rating and set a $7.00 price target on shares of AXT in a research report on Wednesday, April 26th. Needham & Company LLC upped 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. BidaskClub upgraded shares of AXT from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, BWS Financial began coverage on shares of AXT in a research report on Tuesday, April 11th. They set a “buy” rating and a $10.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $8.13.
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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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