AXT (NASDAQ:AXTI) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

AXT (NASDAQ:AXTI) posted its quarterly earnings data on Thursday. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03, Yahoo Finance reports. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. The company had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. During the same quarter last year, the firm posted ($0.08) earnings per share.

AXT Stock Up 20.8 %

AXTI traded up $0.63 during trading on Friday, reaching $3.66. The company had a trading volume of 13,581,864 shares, compared to its average volume of 2,093,250. AXT has a 52 week low of $1.89 and a 52 week high of $5.64. The stock has a market cap of $161.96 million, a P/E ratio of -8.51 and a beta of 2.28. The business has a 50 day simple moving average of $4.03 and a 200-day simple moving average of $2.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXTI. StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of AXT in a research note on Friday. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of AXT in a research report on Friday. B. Riley raised their price objective on AXT from $3.80 to $5.50 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Craig Hallum boosted their target price on AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, AXT has an average rating of “Moderate Buy” and a consensus target price of $5.38.

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.