AXT (NASDAQ:AXTI) Releases Q2 2024 Earnings Guidance

AXT (NASDAQ:AXTI) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of -0.050–0.030 for the period, compared to the consensus estimate of -0.050. The company issued revenue guidance of $25.5 million-$27.5 million, compared to the consensus revenue estimate of $26.3 million.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AXTI. Needham & Company LLC reissued a buy rating and issued a $5.00 price objective on shares of AXT in a research report on Friday. B. Riley boosted their price target on shares of AXT from $3.80 to $5.50 and gave the company a buy rating in a report on Friday, April 5th. StockNews.com upgraded shares of AXT from a sell rating to a hold rating in a report on Monday. Wedbush restated an outperform rating and issued a $6.00 price target on shares of AXT in a report on Friday. Finally, Craig Hallum boosted their price objective on shares of AXT from $3.75 to $5.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $5.38.

AXT Stock Performance

Shares of AXT stock opened at $3.93 on Tuesday. AXT has a 12-month low of $1.89 and a 12-month high of $5.64. The firm’s 50 day simple moving average is $4.02 and its two-hundred day simple moving average is $2.95.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $22.69 million for the quarter, compared to analyst estimates of $21.00 million. AXT had a negative net margin of 21.01% and a negative return on equity of 7.36%. During the same quarter in the prior year, the business posted ($0.08) EPS. Sell-side analysts anticipate that AXT will post -0.1 earnings per share for the current year.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.