Zacks: Analysts Anticipate AXT Inc (NASDAQ:AXTI) to Post $0.03 EPS

Wall Street analysts expect AXT Inc (NASDAQ:AXTI) to post earnings per share (EPS) of $0.03 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for AXT’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.04. AXT reported earnings of $0.10 per share in the same quarter last year, which would indicate a negative year over year growth rate of 70%. The firm is expected to report its next earnings report on Wednesday, October 30th.

On average, analysts expect that AXT will report full-year earnings of $0.08 per share for the current year, with EPS estimates ranging from $0.04 to $0.12. For the next financial year, analysts anticipate that the business will report earnings of $0.23 per share, with EPS estimates ranging from $0.14 to $0.30. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover AXT.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $24.80 million during the quarter, compared to analyst estimates of $24.11 million. AXT had a net margin of 3.36% and a return on equity of 1.68%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share.

AXTI has been the topic of several recent research reports. ValuEngine raised shares of AXT from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered AXT from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. AXT has a consensus rating of “Hold” and an average price target of $5.38.

Shares of NASDAQ AXTI traded down $0.21 during mid-day trading on Friday, reaching $3.81. The company had a trading volume of 5,616 shares, compared to its average volume of 197,276. The business has a fifty day simple moving average of $4.06. The stock has a market capitalization of $155.19 million, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 3.07 and a beta of 1.46. AXT has a 12-month low of $3.55 and a 12-month high of $8.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXTI. Russell Investments Group Ltd. grew its stake in AXT by 20.5% during the second quarter. Russell Investments Group Ltd. now owns 128,409 shares of the semiconductor company’s stock worth $508,000 after buying an additional 21,822 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of AXT by 0.7% in the second quarter. Allianz Asset Management GmbH now owns 474,104 shares of the semiconductor company’s stock valued at $1,877,000 after purchasing an additional 3,430 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of AXT by 520.0% in the second quarter. JPMorgan Chase & Co. now owns 57,545 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 48,263 shares during the period. Eidelman Virant Capital purchased a new position in shares of AXT in the second quarter valued at $59,000. Finally, White Pine Capital LLC purchased a new position in shares of AXT in the first quarter valued at $589,000. 57.58% of the stock is currently owned by institutional investors.

AXT Company Profile

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces 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, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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