Wall Street analysts predict that AXT, Inc. (NASDAQ:AXTI) will post $25.54 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for AXT’s earnings. The highest sales estimate is $25.57 million and the lowest is $25.50 million. AXT reported sales of $18.41 million in the same quarter last year, which would indicate a positive year over year growth rate of 38.7%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 17th.
On average, analysts expect that AXT will report full year sales of $93.85 million for the current financial year, with estimates ranging from $93.80 million to $93.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $108.24 million, with estimates ranging from $105.79 million to $109.94 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow AXT.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The company had revenue of $25.47 million during the quarter, compared to the consensus estimate of $24.13 million. AXT had a negative net margin of 1.01% and a negative return on equity of 0.46%.
A number of equities research analysts have weighed in on the stock. Craig Hallum upped their price objective on shares of AXT from $7.50 to $12.00 in a report on Tuesday, November 17th. BidaskClub cut shares of AXT from a “buy” rating to a “hold” rating in a report on Saturday, December 12th. ValuEngine cut shares of AXT from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. BWS Financial increased their price target on shares of AXT from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, November 17th. Finally, B. Riley cut shares of AXT from a “buy” rating to a “neutral” rating and set a $6.60 price target on the stock. in a report on Tuesday, October 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.84.
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Shares of AXTI opened at $10.07 on Tuesday. AXT has a fifty-two week low of $1.85 and a fifty-two week high of $11.65. The firm’s 50-day simple moving average is $8.84 and its two-hundred day simple moving average is $6.15.
In other AXT news, CFO Gary L. Fischer sold 19,970 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $6.44, for a total value of $128,606.80. Following the transaction, the chief financial officer now directly owns 200,589 shares in the company, valued at $1,291,793.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gary L. Fischer sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $6.30, for a total transaction of $252,000.00. Following the completion of the transaction, the chief financial officer now owns 240,459 shares in the company, valued at $1,514,891.70. The disclosure for this sale can be found here. Insiders sold 188,870 shares of company stock worth $1,388,668 in the last 90 days. 8.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Formidable Asset Management LLC bought a new position in AXT in the third quarter worth approximately $113,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of AXT during the 3rd quarter valued at $154,000. Brinker Capital Investments LLC bought a new stake in shares of AXT during the 3rd quarter valued at $152,000. Kathmere Capital Management LLC bought a new stake in shares of AXT during the 3rd quarter valued at $113,000. Finally, Millrace Asset Group Inc. raised its position in shares of AXT by 45.2% during the 3rd quarter. Millrace Asset Group Inc. now owns 416,734 shares of the semiconductor company’s stock valued at $2,550,000 after purchasing an additional 129,733 shares during the period. Institutional investors and hedge funds own 56.30% of the company’s stock.
About AXT
AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces 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, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging, as well as for 5G.
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