AXT, Inc. (NASDAQ:AXTI) Expected to Post Quarterly Sales of $40.30 Million

Wall Street analysts predict that AXT, Inc. (NASDAQ:AXTIGet Rating) will post sales of $40.30 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for AXT’s earnings. The highest sales estimate is $41.00 million and the lowest is $39.80 million. AXT posted sales of $33.74 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.4%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AXT will report full year sales of $163.60 million for the current financial year, with estimates ranging from $161.82 million to $166.38 million. For the next fiscal year, analysts forecast that the company will post sales of $182.95 million, with estimates ranging from $179.50 million to $186.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for AXT.

AXT (NASDAQ:AXTIGet Rating) last posted its earnings results on Thursday, April 28th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. AXT had a return on equity of 6.41% and a net margin of 9.83%. The company had revenue of $39.65 million during the quarter, compared to the consensus estimate of $39.17 million. During the same quarter last year, the firm earned $0.08 earnings per share.

AXTI has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of AXT in a report on Wednesday, March 9th. Zacks Investment Research upgraded AXT from a “sell” rating to a “hold” rating in a research report on Monday, May 30th. StockNews.com upgraded AXT from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. B. Riley decreased their price target on AXT from $9.50 to $8.00 in a research report on Friday, April 29th. Finally, Northland Securities decreased their price target on AXT from $15.00 to $12.00 in a research report on Friday, April 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.88.

A number of institutional investors have recently added to or reduced their stakes in AXTI. Clearstead Advisors LLC bought a new position in AXT in the first quarter valued at about $35,000. Citigroup Inc. grew its position in AXT by 146.8% in the third quarter. Citigroup Inc. now owns 4,686 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 2,787 shares during the last quarter. Advisor Group Holdings Inc. grew its position in AXT by 124.2% in the third quarter. Advisor Group Holdings Inc. now owns 7,735 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 4,285 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in AXT by 98.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 10,179 shares of the semiconductor company’s stock valued at $85,000 after acquiring an additional 5,038 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in AXT by 95.7% in the third quarter. BNP Paribas Arbitrage SA now owns 10,408 shares of the semiconductor company’s stock valued at $87,000 after acquiring an additional 5,089 shares during the last quarter. Hedge funds and other institutional investors own 53.51% of the company’s stock.

AXTI opened at $5.86 on Monday. AXT has a fifty-two week low of $4.97 and a fifty-two week high of $12.35. The company has a market capitalization of $251.70 million, a P/E ratio of 17.76 and a beta of 2.09. The stock has a fifty day moving average of $6.02 and a 200-day moving average of $7.19.

AXT Company Profile (Get Rating)

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

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