Brokerages expect AXT Inc (NASDAQ:AXTI) to post $28.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for AXT’s earnings. The highest sales estimate is $28.39 million and the lowest is $28.00 million. AXT reported sales of $28.17 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The business is expected to announce its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that AXT will report full-year sales of $107.96 million for the current financial year, with estimates ranging from $107.00 million to $108.50 million. For the next year, analysts expect that the company will post sales of $129.47 million per share, with estimates ranging from $126.64 million to $132.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow AXT.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share (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 last year, the company earned $0.05 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year.
Several equities analysts recently weighed in on the stock. ValuEngine raised shares of AXT from a “sell” rating to a “hold” rating in a research note on Thursday, May 24th. BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. TheStreet raised shares of AXT from a “c+” rating to a “b-” rating in a research note on Tuesday, June 5th. B. Riley raised their target price on shares of AXT from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.17.
Several large investors have recently added to or reduced their stakes in AXTI. Campbell & CO Investment Adviser LLC bought a new position in shares of AXT in the second quarter valued at $112,000. Millrace Asset Group Inc. bought a new position in shares of AXT in the first quarter valued at $130,000. Victory Capital Management Inc. bought a new position in shares of AXT in the first quarter valued at $133,000. MetLife Investment Advisors LLC grew its stake in shares of AXT by 220.7% in the second quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 13,069 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in AXT during the second quarter worth $141,000. 55.21% of the stock is owned by institutional investors and hedge funds.
NASDAQ AXTI opened at $7.60 on Thursday. AXT has a 12-month low of $5.80 and a 12-month high of $10.75. The company has a market capitalization of $312.14 million, a PE ratio of 29.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.
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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