AXT Inc (AXTI) Expected to Post Earnings of $0.08 Per Share

Equities research analysts forecast that AXT Inc (NASDAQ:AXTI) will post earnings of $0.08 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for AXT’s earnings, with estimates ranging from $0.07 to $0.09. AXT reported earnings per share of $0.06 in the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The company is scheduled to issue its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that AXT will report full year earnings of $0.26 per share for the current year, with EPS estimates ranging from $0.25 to $0.26. For the next financial year, analysts expect that the firm will report earnings of $0.44 per share, with EPS estimates ranging from $0.42 to $0.46. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover AXT.

AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. AXT had a net margin of 9.96% and a return on equity of 5.67%. The business had revenue of $28.17 million during the quarter, compared to analyst estimates of $27.05 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year.

A number of research firms have recently issued reports on AXTI. Zacks Investment Research lowered shares of AXT from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. B. Riley upped their target price on shares of AXT from $8.50 to $8.75 and gave the stock a “neutral” rating in a report on Thursday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of AXT in a report on Thursday, October 26th. Finally, BidaskClub lowered shares of AXT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. AXT presently has an average rating of “Buy” and a consensus price target of $9.90.

AXT (AXTI) traded up $0.05 during trading on Friday, hitting $8.95. 164,853 shares of the stock were exchanged, compared to its average volume of 366,743. AXT has a fifty-two week low of $4.90 and a fifty-two week high of $10.75. The stock has a market capitalization of $348.07, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 1.17 and a beta of 1.11.

In other news, CEO Morris S. Young sold 30,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $9.76, for a total transaction of $292,800.00. Following the transaction, the chief executive officer now owns 1,211,970 shares of the company’s stock, valued at approximately $11,828,827.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Robert G. Ochrym sold 25,250 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $8.94, for a total transaction of $225,735.00. Following the transaction, the vice president now directly owns 10,750 shares in the company, valued at approximately $96,105. The disclosure for this sale can be found here. Insiders have sold 133,375 shares of company stock valued at $1,216,235 in the last ninety days. Insiders own 6.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Gotham Asset Management LLC boosted its position in shares of AXT by 35.5% during the 2nd quarter. Gotham Asset Management LLC now owns 23,601 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 6,182 shares during the last quarter. Granite Point Capital Management L.P. boosted its position in shares of AXT by 17.5% during the 2nd quarter. Granite Point Capital Management L.P. now owns 47,000 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 7,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of AXT by 94.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock valued at $197,000 after acquiring an additional 10,451 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of AXT during the 2nd quarter valued at about $100,000. Finally, Verition Fund Management LLC boosted its position in shares of AXT by 23.7% during the 2nd quarter. Verition Fund Management LLC now owns 100,000 shares of the semiconductor company’s stock valued at $635,000 after acquiring an additional 19,145 shares during the last quarter. 60.36% of the stock is currently owned by hedge funds and other institutional investors.

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About AXT

AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.

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