$0.05 EPS Expected for AXT Inc (AXTI) This Quarter
Equities research analysts predict that AXT Inc (NASDAQ:AXTI) will report earnings per share of $0.05 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for AXT’s earnings. AXT posted earnings per share of $0.03 in the same quarter last year, which suggests a positive year over year growth rate of 66.7%. The company is expected to announce its next quarterly earnings report on Wednesday, July 26th.
According to Zacks, analysts expect that AXT will report full-year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from $0.18 to $0.24. For the next year, analysts expect that the company will report earnings of $0.32 per share, with EPS estimates ranging from $0.29 to $0.39. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow AXT.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, April 26th. The semiconductor company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $20.60 million for the quarter, compared to analyst estimates of $18.45 million. AXT had a return on equity of 4.37% and a net margin of 7.52%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year.
Several brokerages have issued reports on AXTI. Needham & Company LLC reaffirmed a “buy” rating and set a $8.50 target price on shares of AXT in a research report on Thursday, March 16th. B. Riley cut AXT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.25 to $7.00 in a research report on Friday, March 17th. Zacks Investment Research cut AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, BWS Financial began coverage on AXT in a research report on Tuesday, April 11th. They set a “buy” rating and a $10.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $8.13.
In other news, VP Robert G. Ochrym sold 7,500 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $6.93, for a total value of $51,975.00. Following the completion of the sale, the vice president now owns 39,000 shares of the company’s stock, valued at approximately $270,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leonard J. Leblanc sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $7.27, for a total value of $36,350.00. Following the completion of the sale, the director now directly owns 149,134 shares of the company’s stock, valued at approximately $1,084,204.18. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of AXTI. Gotham Asset Management LLC acquired a new stake in AXT during the first quarter worth $101,000. Dynamic Technology Lab Private Ltd acquired a new stake in AXT during the fourth quarter worth $104,000. SG Americas Securities LLC acquired a new stake in AXT during the first quarter worth $105,000. A.R.T. Advisors LLC acquired a new stake in AXT during the fourth quarter worth $108,000. Finally, Sanctuary Wealth Advisors LLC acquired a new stake in AXT during the first quarter worth $116,000. 54.33% of the stock is owned by hedge funds and other institutional investors.
Shares of AXT (NASDAQ:AXTI) traded down 2.31% on Thursday, reaching $6.35. The company’s stock had a trading volume of 386,877 shares. AXT has a one year low of $3.12 and a one year high of $8.65. The firm has a market capitalization of $242.93 million, a PE ratio of 34.14 and a beta of 0.99. The firm has a 50-day moving average price of $6.73 and a 200 day moving average price of $6.23.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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