AXT Inc (AXTI) to Post Q3 2017 Earnings of $0.09 Per Share, Dougherty & Co Forecasts
AXT Inc (NASDAQ:AXTI) – Equities researchers at Dougherty & Co raised their Q3 2017 earnings per share estimates for AXT in a research note issued on Thursday. Dougherty & Co analyst J. Maxa now forecasts that the semiconductor company will post earnings per share of $0.09 for the quarter, up from their previous estimate of $0.06. Dougherty & Co currently has a “Buy” rating on the stock. Dougherty & Co also issued estimates for AXT’s FY2017 earnings at $0.23 EPS and FY2018 earnings at $0.35 EPS.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Tuesday, May 23rd. BidaskClub upgraded AXT from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Needham & Company LLC increased their price target on AXT from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. BWS Financial increased their target price on AXT from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, B. Riley reissued a “neutral” rating and set a $8.50 target price on shares of AXT in a report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $9.04.
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AXT (NASDAQ AXTI) opened at 7.55 on Friday. The stock has a market capitalization of $289.75 million, a PE ratio of 37.75 and a beta of 1.08. AXT has a 12 month low of $3.80 and a 12 month high of $9.50. The firm has a 50-day moving average price of $7.45 and a 200 day moving average price of $6.73.
AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $22.55 million. AXT had a return on equity of 4.61% and a net margin of 8.15%. AXT’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share.
Several hedge funds have recently bought and sold shares of AXTI. BlueCrest Capital Management Ltd bought a new position in shares of AXT during the first quarter valued at about $173,000. Alambic Investment Management L.P. raised its stake in shares of 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 in the last quarter. Wells Fargo & Company MN raised its stake in shares of AXT by 34.2% in the first quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 91,945 shares in the last quarter. Royce & Associates LP raised its stake in shares of AXT by 16.0% in the first quarter. Royce & Associates LP now owns 809,743 shares of the semiconductor company’s stock worth $4,697,000 after buying an additional 111,886 shares in the last quarter. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of AXT during the first quarter worth $6,084,000. Institutional investors and hedge funds own 56.73% of the company’s stock.
In other 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 transaction of $51,975.00. Following the sale, the vice president now owns 39,000 shares in the company, valued at $270,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Chang sold 9,000 shares of AXT stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $8.80, for a total value of $79,200.00. Following the sale, the director now owns 164,807 shares in the company, valued at approximately $1,450,301.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,396 shares of company stock worth $924,507. 6.90% of the stock is owned by insiders.
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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