Wall Street analysts predict that AXT Inc (NASDAQ:AXTI) will report $23.08 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for AXT’s earnings, with the highest sales estimate coming in at $24.22 million and the lowest estimate coming in at $22.03 million. AXT reported sales of $24.42 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.5%. The business is expected to report its next quarterly earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that AXT will report full-year sales of $102.46 million for the current fiscal year, with estimates ranging from $100.00 million to $107.37 million. For the next year, analysts forecast that the company will report sales of $114.50 million, with estimates ranging from $114.00 million to $115.00 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for AXT.
Get AXT alerts:AXT (NASDAQ:AXTI) last posted its earnings results on Wednesday, February 20th. The semiconductor company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $22.20 million for the quarter, compared to analysts’ expectations of $22.21 million. AXT had a return on equity of 5.06% and a net margin of 9.43%. AXT’s revenue for the quarter was down 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS.
AXTI has been the topic of a number of recent research reports. Zacks Investment Research raised AXT from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. TheStreet lowered AXT from a “b-” rating to a “c+” rating in a report on Thursday, December 27th. Finally, ValuEngine upgraded shares of AXT from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $7.88.
Shares of NASDAQ:AXTI traded up $0.10 during trading on Wednesday, reaching $4.39. The company had a trading volume of 12,995 shares, compared to its average volume of 257,306. The firm has a market cap of $170.06 million, a P/E ratio of 18.29, a PEG ratio of 0.95 and a beta of 1.10. AXT has a fifty-two week low of $3.70 and a fifty-two week high of $9.38.
Large investors have recently modified their holdings of the stock. Raging Capital Management LLC acquired a new position in AXT in the 4th quarter valued at about $1,959,000. Ancora Advisors LLC grew its position in AXT by 59.1% in the 4th quarter. Ancora Advisors LLC now owns 225,030 shares of the semiconductor company’s stock valued at $979,000 after acquiring an additional 83,556 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in AXT in the 4th quarter valued at about $209,000. Bank of America Corp DE grew its position in AXT by 26.8% in the 4th quarter. Bank of America Corp DE now owns 130,684 shares of the semiconductor company’s stock valued at $569,000 after acquiring an additional 27,646 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in AXT by 236.8% in the 4th quarter. Two Sigma Investments LP now owns 100,905 shares of the semiconductor company’s stock valued at $439,000 after acquiring an additional 70,941 shares in the last quarter. Institutional investors own 55.33% of the company’s stock.
AXT Company Profile
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures 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, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.
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