AXT Inc (AXTI) Expected to Post Quarterly Sales of $25.84 Million
Wall Street brokerages expect AXT Inc (NASDAQ:AXTI) to post $25.84 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for AXT’s earnings, with estimates ranging from $23.89 million to $27.40 million. AXT reported sales of $21.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 18.2%. The company is scheduled to announce its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that AXT will report full-year sales of $25.84 million for the current year, with estimates ranging from $90.10 million to $98.75 million. For the next financial year, analysts forecast that the business will post sales of $110.85 million per share, with estimates ranging from $103.13 million to $120.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for AXT.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. AXT had a net margin of 8.15% and a return on equity of 4.61%. The company had revenue of $23.56 million during the quarter, compared to the consensus estimate of $22.55 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year.
Several research firms recently weighed in on AXTI. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research note on Saturday, June 17th. B. Riley reaffirmed a “neutral” rating and set a $8.50 target price on shares of AXT in a research note on Thursday, July 27th. BWS Financial raised their target price on shares of AXT from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub raised shares of AXT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research note on Friday, July 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.04.
Shares of AXT (NASDAQ AXTI) opened at 7.60 on Monday. The company has a market capitalization of $291.67 million, a P/E ratio of 38.00 and a beta of 1.08. AXT has a 12-month low of $3.77 and a 12-month high of $9.50. The stock’s 50 day moving average is $7.33 and its 200-day moving average is $6.69.
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In related news, CEO Morris S. Young sold 92,896 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $8.54, for a total transaction of $793,331.84. Following the completion of the transaction, the chief executive officer now directly owns 1,213,200 shares of the company’s stock, valued at $10,360,728. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David C. Chang sold 9,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $8.80, for a total transaction of $79,200.00. Following the transaction, the director now directly owns 164,807 shares of the company’s stock, valued at $1,450,301.60. The disclosure for this sale can be found here. Insiders have sold 114,396 shares of company stock valued at $960,857 over the last ninety days. 6.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Gotham Asset Management LLC acquired a new position in shares of AXT during the first quarter worth approximately $101,000. SG Americas Securities LLC acquired a new position in shares of AXT during the first quarter worth approximately $105,000. Sanctuary Wealth Advisors LLC acquired a new position in shares of AXT during the first quarter worth approximately $116,000. BlueCrest Capital Management Ltd acquired a new position in shares of AXT during the first quarter worth approximately $173,000. Finally, Nationwide Fund Advisors boosted its position in shares of AXT by 278.0% in the second quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock worth $180,000 after buying an additional 20,892 shares during the last quarter. 55.27% of the stock is owned by institutional investors and hedge funds.
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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