Zacks: Analysts Anticipate AXT Inc (AXTI) Will Post Earnings of $0.10 Per Share

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Wall Street brokerages predict that AXT Inc (NASDAQ:AXTI) will report earnings per share (EPS) of $0.10 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for AXT’s earnings, with estimates ranging from $0.09 to $0.10. AXT posted earnings per share of $0.11 during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.1%. The company is scheduled to issue its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that AXT will report full year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.35 to $0.38. For the next year, analysts expect that the company will post earnings of $0.51 per share. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow AXT.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. AXT had a net margin of 13.51% and a return on equity of 7.72%. The company had revenue of $27.12 million for the quarter, compared to the consensus estimate of $26.10 million. During the same period in the prior year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year.

Several brokerages have recently issued reports on AXTI. BidaskClub cut shares of AXT from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine cut shares of AXT from a “hold” rating to a “sell” rating in a report on Friday. Dougherty & Co restated a “buy” rating on shares of AXT in a report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded shares of AXT from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.17.

Shares of AXT stock opened at $7.35 on Friday. AXT has a 12-month low of $5.80 and a 12-month high of $10.75. The firm has a market capitalization of $290.40 million, a PE ratio of 20.42, a P/E/G ratio of 1.16 and a beta of 1.19.

Several institutional investors have recently modified their holdings of AXTI. Campbell & CO Investment Adviser LLC acquired a new position in shares of AXT in the 2nd quarter valued at $112,000. Millrace Asset Group Inc. acquired a new stake in AXT during the 1st quarter worth $130,000. Victory Capital Management Inc. acquired a new stake in AXT during the 1st quarter worth $133,000. MetLife Investment Advisors LLC boosted its stake in AXT by 220.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 13,069 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in AXT during the 2nd quarter worth $141,000. Institutional investors and hedge funds own 56.36% of the company’s stock.

About AXT

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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