AXT Inc (NASDAQ:AXTI) shares shot up 0% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $6.40 and last traded at $6.35. 806,029 shares traded hands during mid-day trading, an increase of 88% from the average session volume of 429,181 shares. The stock had previously closed at $6.35.
The semiconductor company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $24.40 million during the quarter, compared to the consensus estimate of $24.24 million. AXT had a return on equity of 5.81% and a net margin of 10.28%. AXT’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
A number of research firms recently weighed in on AXTI. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research report on Wednesday, December 27th. TheStreet downgraded AXT from a “b” rating to a “c+” rating in a research report on Wednesday, April 18th. B. Riley dropped their target price on AXT from $8.75 to $8.25 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. BidaskClub downgraded AXT from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Dougherty & Co restated a “buy” rating on shares of AXT in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $10.44.
The stock has a market cap of $246.49, a price-to-earnings ratio of 24.42, a P/E/G ratio of 1.08 and a beta of 1.06.
AXT Company Profile
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.
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