$26.78 Million in Sales Expected for AXT Inc (AXTI) This Quarter
Wall Street brokerages forecast that AXT Inc (NASDAQ:AXTI) will post sales of $26.78 million for the current quarter, Zacks reports. Four analysts have provided estimates for AXT’s earnings, with the lowest sales estimate coming in at $26.50 million and the highest estimate coming in at $27.00 million. AXT reported sales of $20.27 million during the same quarter last year, which indicates a positive year over year growth rate of 32.1%. The firm is scheduled to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that AXT will report full year sales of $26.78 million for the current financial year, with estimates ranging from $98.18 million to $99.24 million. For the next financial year, analysts expect that the firm will report sales of $117.32 million per share, with estimates ranging from $112.90 million to $120.40 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for AXT.
AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The business had revenue of $28.17 million during the quarter, compared to analyst estimates of $27.05 million. AXT had a return on equity of 5.67% and a net margin of 9.96%. The company’s revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share.
AXT (AXTI) opened at $8.95 on Wednesday. AXT has a 52-week low of $4.55 and a 52-week high of $10.75. The firm has a market capitalization of $338.36, a price-to-earnings ratio of 36.25, a P/E/G ratio of 1.95 and a beta of 1.11.
In other AXT news, VP Robert G. Ochrym sold 25,250 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $8.94, for a total value of $225,735.00. Following the transaction, the vice president now directly owns 10,750 shares in the company, valued at approximately $96,105. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert G. Ochrym sold 8,125 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $8.80, for a total value of $71,500.00. Following the completion of the transaction, the vice president now owns 44,125 shares in the company, valued at $388,300. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,375 shares of company stock valued at $1,216,235. 6.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC bought a new position in shares of AXT in the 2nd quarter worth $100,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of AXT by 94.2% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock worth $197,000 after purchasing an additional 10,451 shares during the last quarter. JPMorgan Chase & Co. bought a new position in AXT during the third quarter worth about $203,000. Gotham Asset Management LLC lifted its holdings in AXT by 35.5% during the second quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 6,182 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in AXT by 278.0% during the second quarter. Nationwide Fund Advisors now owns 28,407 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 20,892 shares in the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.
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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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