AXT (NASDAQ:AXTI) Issues Quarterly Earnings Results

AXT (NASDAQ:AXTI) announced its quarterly earnings results on Thursday. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02, Zacks reports. The firm had revenue of $27.92 million for the quarter, compared to the consensus estimate of $26.50 million. AXT had a negative return on equity of 5.85% and a negative net margin of 14.75%. During the same period in the prior year, the company posted ($0.12) earnings per share.

AXT Stock Performance

AXT stock opened at $2.68 on Friday. The stock has a market cap of $118.99 million, a PE ratio of -6.70 and a beta of 2.28. AXT has a one year low of $1.89 and a one year high of $5.64. The stock has a fifty day moving average of $3.55 and a 200 day moving average of $3.51.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AXTI shares. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday. Craig Hallum upped their price target on AXT from $3.75 to $5.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of AXT in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

About AXT

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.