Analysts Expect AXT Inc (AXTI) Will Announce Earnings of $0.10 Per Share

Wall Street brokerages expect that AXT Inc (NASDAQ:AXTI) will report earnings per share of $0.10 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for AXT’s earnings. The highest EPS estimate is $0.10 and the lowest is $0.09. AXT posted earnings per share of $0.11 in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.1%. The company is scheduled to report its next earnings report on Wednesday, October 24th.

On average, 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 financial year, analysts anticipate that the business will report earnings of $0.50 per share, with EPS estimates ranging from $0.49 to $0.51. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover AXT.

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

Several research firms have recently commented on AXTI. BidaskClub lowered AXT from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine upgraded AXT from a “hold” rating to a “buy” rating in a report on Wednesday, June 6th. Dougherty & Co reiterated a “buy” rating on shares of AXT in a report on Wednesday, August 1st. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Tuesday, July 24th. Finally, B. Riley boosted their price objective on shares of AXT from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.17.

Shares of NASDAQ AXTI traded down $0.10 during trading on Friday, hitting $7.17. 1,446 shares of the company were exchanged, compared to its average volume of 297,712. AXT has a 12-month low of $5.80 and a 12-month high of $10.75. The firm has a market cap of $296.33 million, a PE ratio of 27.69, a P/E/G ratio of 1.40 and a beta of 1.05.

A number of institutional investors and hedge funds have recently modified their holdings of AXTI. Foundry Partners LLC purchased a new stake in AXT in the 1st quarter valued at about $2,572,000. Systematic Financial Management LP raised its holdings in AXT by 27.6% in the 2nd quarter. Systematic Financial Management LP now owns 1,142,463 shares of the semiconductor company’s stock valued at $8,054,000 after buying an additional 246,999 shares during the period. Royce & Associates LP raised its holdings in AXT by 14.2% in the 2nd quarter. Royce & Associates LP now owns 1,679,684 shares of the semiconductor company’s stock valued at $11,842,000 after buying an additional 209,075 shares during the period. BlackRock Inc. raised its holdings in AXT by 7.0% in the 2nd quarter. BlackRock Inc. now owns 2,653,369 shares of the semiconductor company’s stock valued at $18,706,000 after buying an additional 172,795 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in AXT by 10.9% in the 2nd quarter. Hood River Capital Management LLC now owns 1,574,835 shares of the semiconductor company’s stock valued at $11,103,000 after buying an additional 155,164 shares during the period. Hedge funds and other institutional investors own 55.08% 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.

Read More: Marijuana Stocks Investing Considerations

Get a free copy of the Zacks research report on AXT (AXTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for AXT (NASDAQ:AXTI)

Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply