AXT (NASDAQ:AXTI) Issues Earnings Results, Beats Expectations By $0.03 EPS

AXT (NASDAQ:AXTI) released its quarterly earnings data on Thursday. The semiconductor company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03, Yahoo Finance reports. The firm had revenue of $22.69 million during the quarter, compared to analysts’ expectations of $21.00 million. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. During the same period in the previous year, the business posted ($0.08) earnings per share.

AXT Stock Up 20.8 %

Shares of AXTI traded up $0.63 during trading hours on Friday, hitting $3.66. 13,581,864 shares of the company were exchanged, compared to its average volume of 2,093,250. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64. The company has a market cap of $161.96 million, a price-to-earnings ratio of -8.51 and a beta of 2.28. The firm’s fifty day moving average is $4.03 and its 200 day moving average is $2.93.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of AXT in a report on Friday. Craig Hallum upped their target price on AXT from $3.75 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. StockNews.com cut AXT from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday. Finally, B. Riley increased their price objective on AXT from $3.80 to $5.50 and gave the stock a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.38.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.