AXT Inc (AXTI) Expected to Announce Earnings of $0.10 Per Share

Analysts expect AXT Inc (NASDAQ:AXTI) to announce earnings of $0.10 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for AXT’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.09. AXT posted earnings of $0.11 per share during the same quarter last year, which would suggest a negative year over year growth rate of 9.1%. The business is expected to issue its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that AXT will report full-year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.35 to $0.38. For the next fiscal year, analysts expect that the firm will report earnings of $0.50 per share, with EPS estimates ranging from $0.49 to $0.51. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for AXT.

AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, July 25th. The semiconductor company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $27.12 million during the quarter, compared to analyst estimates of $26.10 million. AXT had a return on equity of 7.72% and a net margin of 13.51%. AXT’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share.

A number of research analysts recently commented on the company. B. Riley upped their target price on AXT from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 20th. BidaskClub upgraded AXT from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. TheStreet upgraded AXT from a “c+” rating to a “b-” rating in a research note on Tuesday, June 5th. ValuEngine upgraded AXT from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Finally, Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.17.

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in AXT by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,273,255 shares of the semiconductor company’s stock valued at $23,731,000 after acquiring an additional 82,133 shares during the period. BlackRock Inc. grew its position in AXT by 7.0% in the second quarter. BlackRock Inc. now owns 2,653,369 shares of the semiconductor company’s stock valued at $18,706,000 after acquiring an additional 172,795 shares during the period. Royce & Associates LP grew its position in AXT by 14.2% in the second quarter. Royce & Associates LP now owns 1,679,684 shares of the semiconductor company’s stock valued at $11,842,000 after acquiring an additional 209,075 shares during the period. Hood River Capital Management LLC grew its position in AXT by 10.9% in the second quarter. Hood River Capital Management LLC now owns 1,574,835 shares of the semiconductor company’s stock valued at $11,103,000 after acquiring an additional 155,164 shares during the period. Finally, Systematic Financial Management LP grew its position in AXT by 27.6% in the second quarter. Systematic Financial Management LP now owns 1,142,463 shares of the semiconductor company’s stock valued at $8,054,000 after acquiring an additional 246,999 shares during the period. Hedge funds and other institutional investors own 55.08% of the company’s stock.

Shares of NASDAQ AXTI traded up $0.30 during trading hours on Friday, reaching $7.55. The stock had a trading volume of 500,400 shares, compared to its average volume of 435,354. The firm has a market capitalization of $284.48 million, a price-to-earnings ratio of 29.04, a PEG ratio of 1.32 and a beta of 1.05. AXT has a twelve month low of $5.80 and a twelve month high of $10.75.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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