Equities analysts expect AXT Inc (NASDAQ:AXTI) to announce sales of $27.49 million for the current quarter, according to Zacks. Three analysts have made estimates for AXT’s earnings, with the lowest sales estimate coming in at $27.00 million and the highest estimate coming in at $28.44 million. AXT posted sales of $26.33 million in the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The business is expected to announce its next quarterly earnings report on Wednesday, February 20th.
On average, analysts expect that AXT will report full year sales of $107.55 million for the current financial year, with estimates ranging from $107.10 million to $108.37 million. For the next financial year, analysts anticipate that the firm will report sales of $120.30 million, with estimates ranging from $120.09 million to $120.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover AXT.
AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, October 31st. The semiconductor company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $28.63 million during the quarter, compared to the consensus estimate of $28.14 million. AXT had a return on equity of 7.34% and a net margin of 13.00%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS.
A number of research firms have recently weighed in on AXTI. ValuEngine downgraded AXT from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded AXT from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. BidaskClub upgraded AXT from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Dougherty & Co restated a “buy” rating on shares of AXT in a research report on Wednesday, August 1st. Finally, B. Riley dropped their price objective on AXT from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. AXT has a consensus rating of “Hold” and a consensus target price of $9.00.
Several hedge funds have recently made changes to their positions in AXTI. Campbell & CO Investment Adviser LLC bought a new stake in shares of AXT during the 2nd quarter worth $112,000. MetLife Investment Advisors LLC lifted its position in shares of 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 buying an additional 13,069 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of AXT during the 2nd quarter worth $141,000. Bank of America Corp DE lifted its position in shares of AXT by 804.2% during the 2nd quarter. Bank of America Corp DE now owns 31,746 shares of the semiconductor company’s stock worth $223,000 after buying an additional 28,235 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of AXT during the 3rd quarter worth $382,000. Institutional investors and hedge funds own 55.79% of the company’s stock.
NASDAQ:AXTI opened at $5.77 on Friday. The firm has a market cap of $232.72 million, a PE ratio of 16.83, a P/E/G ratio of 1.13 and a beta of 1.18. AXT has a fifty-two week low of $5.27 and a fifty-two week high of $10.75.
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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