AXT (NASDAQ:AXTI) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

AXT (NASDAQ:AXTI) issued its earnings results on Thursday. The semiconductor company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03, Yahoo Finance reports. The firm had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. AXT had a negative return on equity of 7.36% and a negative net margin of 21.01%. During the same quarter in the prior year, the business earned ($0.08) earnings per share.

AXT Stock Performance

NASDAQ:AXTI opened at $3.66 on Friday. AXT has a fifty-two week low of $1.89 and a fifty-two week high of $5.64. The company has a fifty day moving average of $4.03 and a two-hundred day moving average of $2.93.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AXTI shares. B. Riley upped their price objective on AXT from $3.80 to $5.50 and gave the stock a “buy” rating in a research report on Friday, April 5th. Craig Hallum increased their price target on shares of AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of AXT in a research report on Friday. Finally, StockNews.com cut 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. According to MarketBeat, AXT currently has an average rating of “Moderate Buy” and an average price target of $5.38.

AXT Company Profile

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.