Wall Street analysts expect AXT Inc (NASDAQ:AXTI) to report $22.21 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for AXT’s earnings. The lowest sales estimate is $22.19 million and the highest is $22.25 million. AXT reported sales of $26.33 million during the same quarter last year, which indicates a negative year-over-year growth rate of 15.6%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, February 20th.
On average, analysts expect that AXT will report full-year sales of $102.36 million for the current fiscal year, with estimates ranging from $102.30 million to $102.42 million. For the next fiscal year, analysts forecast that the company will report sales of $102.46 million, with estimates ranging from $100.00 million to $107.37 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow AXT.
Separately, Zacks Investment Research raised shares of AXT from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $7.88.
AXTI stock traded down $0.03 during mid-day trading on Monday, reaching $4.02. 77,300 shares of the stock traded hands, compared to its average volume of 278,393. AXT has a 52-week low of $3.70 and a 52-week high of $9.38. The firm has a market capitalization of $158.95 million, a PE ratio of 15.46, a P/E/G ratio of 0.89 and a beta of 1.10.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP lifted its position in shares of AXT by 15.3% in the fourth quarter. Royce & Associates LP now owns 2,144,784 shares of the semiconductor company’s stock worth $9,330,000 after purchasing an additional 284,200 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AXT by 13.2% in the fourth quarter. Bank of New York Mellon Corp now owns 196,886 shares of the semiconductor company’s stock worth $856,000 after purchasing an additional 22,968 shares in the last quarter. BlackRock Inc. lifted its position in shares of AXT by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,746,560 shares of the semiconductor company’s stock worth $11,949,000 after purchasing an additional 79,457 shares in the last quarter. First Trust Advisors LP lifted its position in shares of AXT by 18.8% in the fourth quarter. First Trust Advisors LP now owns 63,426 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 10,016 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of AXT by 42.5% in the fourth quarter. Rhumbline Advisers now owns 52,855 shares of the semiconductor company’s stock worth $230,000 after purchasing an additional 15,765 shares in the last quarter. 54.40% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: Return on Equity (ROE)
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