AXT (NASDAQ:AXTI) Issues Quarterly Earnings Results

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

AXT Trading Up 20.8 %

Shares of NASDAQ:AXTI traded up $0.63 during trading on Friday, reaching $3.66. The stock had a trading volume of 13,601,544 shares, compared to its average volume of 908,661. The stock has a fifty day simple moving average of $4.03 and a two-hundred day simple moving average of $2.93. AXT has a 52 week low of $1.89 and a 52 week high of $5.64.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXTI. Craig Hallum increased their target price on shares of AXT from $3.75 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of AXT in a report on Friday. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday. Finally, B. Riley increased their price objective on AXT from $3.80 to $5.50 and gave the stock a “buy” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.