AXT (NASDAQ:AXTI) Issues Earnings Results

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

AXT Price Performance

NASDAQ AXTI traded up $0.63 during trading on Friday, hitting $3.66. 13,581,864 shares of the company’s stock traded hands, compared to its average volume of 2,093,250. The stock has a fifty day moving average of $4.03 and a two-hundred day moving average of $2.93. AXT has a 12-month low of $1.89 and a 12-month high of $5.64. The firm has a market cap of $161.96 million, a P/E ratio of -8.51 and a beta of 2.28.

Wall Street Analyst Weigh In

AXTI has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $6.00 target price on shares of AXT in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of AXT in a research report on Friday. B. Riley increased their target price on AXT from $3.80 to $5.50 and gave the company a “buy” rating in a research note on Friday, April 5th. Craig Hallum lifted their price target on AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.38.

About AXT

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.