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

AXT (NASDAQ:AXTI) posted its quarterly earnings results 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. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. The firm had revenue of $22.69 million for the quarter, compared to analysts’ expectations of $21.00 million. During the same period in the prior year, the business posted ($0.08) earnings per share.

AXT Trading Up 20.8 %

Shares of NASDAQ:AXTI traded up $0.63 during trading on Friday, reaching $3.66. The stock had a trading volume of 13,581,864 shares, compared to its average volume of 2,093,250. The firm’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $2.93. AXT has a one year low of $1.89 and a one year high of $5.64. The company has a market capitalization of $161.96 million, a P/E ratio of -8.51 and a beta of 2.28.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of AXT in a research report on Friday. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of AXT in a report on Friday. Craig Hallum increased their target price on shares of AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, B. Riley boosted their price target on shares of AXT from $3.80 to $5.50 and gave the company a “buy” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.