$24.08 Million in Sales Expected for AXT Inc (AXTI) This Quarter
Wall Street brokerages forecast that AXT Inc (NASDAQ:AXTI) will report $24.08 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for AXT’s earnings, with the lowest sales estimate coming in at $23.50 million and the highest estimate coming in at $25.03 million. AXT posted sales of $21.87 million in the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The company is expected to issue its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that AXT will report full-year sales of $24.08 million for the current fiscal year, with estimates ranging from $90.00 million to $92.99 million. For the next fiscal year, analysts forecast that the firm will report sales of $104.55 million per share, with estimates ranging from $103.13 million to $107.22 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover AXT.
AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. AXT had a net margin of 7.52% and a return on equity of 4.37%. The company had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $22.55 million. During the same period last year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis.
A number of analysts recently commented on AXTI shares. Zacks Investment Research cut shares of AXT from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. BWS Financial started coverage on shares of AXT in a research note on Tuesday, April 11th. They set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC upped their price target on shares of AXT from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Dougherty & Co restated a “buy” rating on shares of AXT in a research note on Saturday, June 17th. Finally, BidaskClub upgraded shares of AXT from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $8.38.
In related news, Director Leonard J. Leblanc sold 5,000 shares of the company’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 transaction of $36,350.00. Following the sale, the director now owns 149,134 shares of the company’s stock, valued at approximately $1,084,204.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert G. Ochrym sold 7,500 shares of the company’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 sale, the vice president now directly owns 39,000 shares in the company, valued at approximately $270,270. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC raised its stake in AXT by 35.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 782,534 shares of the semiconductor company’s stock worth $4,539,000 after buying an additional 203,674 shares during the period. Alambic Investment Management L.P. raised its stake in AXT by 86.9% in the first quarter. Alambic Investment Management L.P. now owns 143,811 shares of the semiconductor company’s stock worth $834,000 after buying an additional 66,879 shares during the period. Hood River Capital Management LLC purchased a new stake in AXT during the first quarter worth $5,699,000. TFS Capital LLC raised its stake in AXT by 98.8% in the first quarter. TFS Capital LLC now owns 73,654 shares of the semiconductor company’s stock worth $427,000 after buying an additional 36,597 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in AXT during the first quarter worth $1,054,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.
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Shares of AXT (NASDAQ:AXTI) traded up 8.55% on Thursday, hitting $8.25. 1,810,504 shares of the stock traded hands. The stock has a 50 day moving average price of $6.78 and a 200-day moving average price of $6.50. AXT has a 52 week low of $3.51 and a 52 week high of $8.90. The stock has a market cap of $315.61 million, a price-to-earnings ratio of 44.35 and a beta of 1.01.
AXT Company Profile
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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