AXT (NASDAQ:AXTI) Issues Q4 2024 Earnings Guidance

AXT (NASDAQ:AXTI) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -0.050–0.030 for the period, compared to the consensus earnings per share estimate of -0.040. The company issued revenue guidance of $23.0 million-$25.0 million, compared to the consensus revenue estimate of $27.6 million.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of AXT in a research note on Friday. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of AXT in a research note on Monday, July 29th. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Finally, Northland Securities dropped their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, AXT currently has a consensus rating of “Moderate Buy” and an average price target of $5.30.

AXT Stock Down 18.1 %

AXTI traded down $0.47 during trading on Friday, hitting $2.11. The company’s stock had a trading volume of 1,412,901 shares, compared to its average volume of 330,892. The stock has a market capitalization of $93.85 million, a price-to-earnings ratio of -8.44 and a beta of 2.22. The firm’s 50 day moving average price is $2.46 and its two-hundred day moving average price is $3.01. AXT has a 12 month low of $1.89 and a 12 month high of $5.64.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $23.65 million for the quarter, compared to analyst estimates of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same quarter in the previous year, the company posted ($0.14) earnings per share. On average, sell-side analysts forecast that AXT will post -0.19 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.