Equities analysts expect AXT, Inc. (NASDAQ:AXTI) to announce sales of $25.54 million for the current quarter, according to Zacks. Three analysts have made estimates for AXT’s earnings, with the lowest sales estimate coming in at $25.50 million and the highest estimate coming in at $25.57 million. AXT posted sales of $18.41 million in the same quarter last year, which suggests a positive year over year growth rate of 38.7%. The business is expected to announce its next quarterly earnings report 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 financial 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 sell-side research analysts that cover AXT.
AXTI has been the topic of a number of recent analyst reports. Craig Hallum upped their price target on shares of AXT from $7.50 to $12.00 in a research note on Tuesday, November 17th. BWS Financial upped their price target on shares of AXT from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, November 17th. Finally, Zacks Investment Research cut shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 29th.
In related news, CEO Morris S. Young sold 37,000 shares of the stock in a transaction dated Tuesday, January 5th. The shares were sold at an average price of $10.01, for a total value of $370,370.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gary L. Fischer sold 20,000 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $6.87, for a total transaction of $137,400.00. Following the completion of the sale, the chief financial officer now directly owns 350,495 shares in the company, valued at $2,407,900.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,000 shares of company stock worth $1,185,290. Corporate insiders own 8.10% of the company’s stock.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC grew its stake in AXT by 18.6% in the 4th quarter. Game Plan Financial Advisors LLC now owns 566,700 shares of the semiconductor company’s stock valued at $5,452,000 after acquiring an additional 88,850 shares during the last quarter. Millrace Asset Group Inc. boosted its stake 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 worth $2,550,000 after purchasing an additional 129,733 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of AXT by 9.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 158,279 shares of the semiconductor company’s stock worth $753,000 after purchasing an additional 14,254 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of AXT by 8.2% during the 2nd quarter. Two Sigma Advisers LP now owns 123,500 shares of the semiconductor company’s stock worth $588,000 after purchasing an additional 9,400 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of AXT by 4.5% during the 3rd quarter. California Public Employees Retirement System now owns 90,307 shares of the semiconductor company’s stock worth $553,000 after purchasing an additional 3,900 shares during the last quarter. 61.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AXT stock opened at $11.45 on Friday. The company has a market cap of $472.89 million, a P/E ratio of -381.54 and a beta of 2.29. AXT has a one year low of $1.85 and a one year high of $12.65. The firm has a fifty day moving average of $10.72 and a two-hundred day moving average of $7.52.
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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