AXT Inc (AXTI) Expected to Announce Earnings of $0.08 Per Share
Wall Street analysts expect that AXT Inc (NASDAQ:AXTI) will announce $0.08 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for AXT’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.06. AXT posted earnings of $0.07 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The firm is scheduled to report its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that AXT will report full-year earnings of $0.23 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.27. For the next fiscal year, analysts expect that the company will post earnings of $0.36 per share, with EPS estimates ranging from $0.29 to $0.42. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover AXT.
AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 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 firm had revenue of $23.56 million during the quarter, compared to analyst estimates of $22.55 million. During the same quarter in the previous year, the business earned $0.03 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year.
A number of brokerages have recently weighed in on AXTI. B. Riley restated a “neutral” rating and issued a $8.50 price objective on shares of AXT in a report on Tuesday, August 1st. BidaskClub lowered shares of AXT from a “strong-buy” rating to a “buy” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Friday, August 18th. Dougherty & Co restated a “buy” rating on shares of AXT in a report on Saturday, June 17th. Finally, BWS Financial upped their price target on shares of AXT from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $8.83.
Shares of AXT (NASDAQ AXTI) opened at 7.80 on Thursday. The firm has a market cap of $299.34 million, a price-to-earnings ratio of 39.00 and a beta of 1.08. The firm’s 50-day moving average is $7.60 and its 200-day moving average is $6.80. AXT has a 12-month low of $3.85 and a 12-month high of $9.50.
In related news, Director David C. Chang sold 9,000 shares of the company’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 completion of the sale, the director now directly owns 164,807 shares in the company, valued at approximately $1,450,301.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Morris S. Young sold 92,896 shares of the company’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 sale, the chief executive officer now owns 1,213,200 shares of the company’s stock, valued at $10,360,728. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Verition Fund Management LLC raised its stake in AXT by 23.7% in the second quarter. Verition Fund Management LLC now owns 100,000 shares of the semiconductor company’s stock worth $635,000 after buying an additional 19,145 shares in the last quarter. California State Teachers Retirement System purchased a new stake in AXT during the second quarter worth approximately $418,000. The Manufacturers Life Insurance Company raised its stake in AXT by 15,013.0% in the second quarter. The Manufacturers Life Insurance Company now owns 30,226 shares of the semiconductor company’s stock worth $192,000 after buying an additional 30,026 shares in the last quarter. State Street Corp raised its stake in AXT by 2,392.6% in the second quarter. State Street Corp now owns 461,458 shares of the semiconductor company’s stock worth $2,931,000 after buying an additional 442,945 shares in the last quarter. Finally, Gotham Asset Management LLC raised its stake in AXT by 35.5% in the second quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock worth $150,000 after buying an additional 6,182 shares in the last quarter. Institutional investors own 61.87% of the company’s stock.
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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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