AXT (NASDAQ:AXTI) Releases Earnings Results, Beats Estimates By $0.02 EPS

AXT (NASDAQ:AXTI) released its earnings results on Thursday. The semiconductor company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02, Zacks reports. AXT had a negative return on equity of 7.40% and a negative net margin of 21.01%. The company had revenue of $27.92 million during the quarter, compared to the consensus estimate of $26.50 million. During the same quarter in the previous year, the company posted ($0.12) EPS.

AXT Trading Down 14.6 %

AXTI traded down $0.48 on Friday, hitting $2.81. 731,573 shares of the company’s stock traded hands, compared to its average volume of 1,361,255. The company’s 50 day simple moving average is $3.56 and its 200-day simple moving average is $3.51. AXT has a one year low of $1.89 and a one year high of $5.64. The firm has a market cap of $124.76 million, a price-to-earnings ratio of -7.02 and a beta of 2.28.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AXTI. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday. B. Riley raised their price target on AXT from $3.80 to $5.50 and gave the stock a “buy” rating in a research note on Friday, April 5th. Craig Hallum upped their target price on AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of AXT in a research note on Monday. Finally, StockNews.com cut AXT from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, AXT presently has a consensus rating of “Moderate Buy” and an average price target 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.