AXT Inc (AXTI) Expected to Post Quarterly Sales of $26.30 Million
Equities research analysts predict that AXT Inc (NASDAQ:AXTI) will post $26.30 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for AXT’s earnings, with the lowest sales estimate coming in at $23.89 million and the highest estimate coming in at $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 20.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that AXT will report full-year sales of $26.30 million for the current year, with estimates ranging from $91.52 million to $98.75 million. For the next financial year, analysts forecast that the business will report sales of $112.32 million per share, with estimates ranging from $103.13 million to $120.40 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for AXT.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results 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 the consensus estimate of $22.55 million. AXT had a net margin of 8.15% and a return on equity of 4.61%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS.
A number of equities analysts have commented on AXTI shares. Zacks Investment Research raised shares of 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. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a research note on Saturday, June 17th. BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. B. Riley reaffirmed a “neutral” rating and set a $7.00 target price on shares of AXT in a research note on Friday, July 21st. Finally, BWS Financial lifted their target price on shares of AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.21.
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AXT (NASDAQ AXTI) opened at 8.85 on Wednesday. The company’s 50-day moving average is $7.92 and its 200 day moving average is $6.94. AXT has a one year low of $4.35 and a one year high of $9.50. The company has a market capitalization of $339.64 million, a P/E ratio of 44.25 and a beta of 1.13.
In other news, Director David C. Chang sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $8.80, for a total value of $79,200.00. Following the sale, the director now directly owns 164,807 shares of the company’s stock, valued at approximately $1,450,301.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Morris S. Young sold 92,896 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,213,200 shares in the company, valued at $10,360,728. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Gotham Asset Management LLC raised its stake in shares of AXT by 35.5% in the 2nd quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 6,182 shares during the period. Granite Point Capital Management L.P. raised its stake in shares of AXT by 17.5% in the 2nd quarter. Granite Point Capital Management L.P. now owns 47,000 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 7,000 shares during the period. Voya Investment Management LLC purchased a new stake in shares of AXT in the 2nd quarter valued at approximately $100,000. SG Americas Securities LLC purchased a new stake in shares of AXT in the 1st quarter valued at approximately $105,000. Finally, Verition Fund Management LLC raised its stake in shares of AXT by 23.7% in the 2nd quarter. Verition Fund Management LLC now owns 100,000 shares of the semiconductor company’s stock valued at $635,000 after acquiring an additional 19,145 shares during the period. 61.87% of the stock is currently owned by institutional investors and hedge funds.
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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