Zacks: Brokerages Expect AXT Inc (NASDAQ:AXTI) to Announce $0.04 Earnings Per Share

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Analysts forecast that AXT Inc (NASDAQ:AXTI) will post earnings of $0.04 per share for the current quarter, according to Zacks. Three analysts have made estimates for AXT’s earnings, with estimates ranging from $0.03 to $0.04. AXT posted earnings per share of $0.10 during the same quarter last year, which would indicate a negative year over year growth rate of 60%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, July 24th.

According to Zacks, analysts expect that AXT will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.08 to $0.19. For the next fiscal year, analysts expect that the firm will post earnings of $0.35 per share, with EPS estimates ranging from $0.34 to $0.35. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover AXT.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. The company had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $20.69 million. AXT had a return on equity of 2.97% and a net margin of 5.78%. The business’s revenue was down 17.2% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share.

A number of research analysts have commented on AXTI shares. Zacks Investment Research raised FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective on the stock in a report on Tuesday, June 25th. ValuEngine lowered Willdan Group from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.25.

NASDAQ AXTI traded up $0.02 during trading on Friday, hitting $3.97. The stock had a trading volume of 45,597 shares, compared to its average volume of 208,650. AXT has a 12 month low of $3.55 and a 12 month high of $9.38. The firm has a market cap of $159.20 million, a P/E ratio of 16.54, a PEG ratio of 2.03 and a beta of 1.45. The company has a 50-day moving average price of $4.08.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in AXT by 3.0% in the 4th quarter. BlackRock Inc. now owns 2,746,560 shares of the semiconductor company’s stock valued at $11,949,000 after buying an additional 79,457 shares in the last quarter. Royce & Associates LP grew its holdings in shares of AXT by 10.7% during the 1st quarter. Royce & Associates LP now owns 2,375,084 shares of the semiconductor company’s stock worth $10,569,000 after purchasing an additional 230,300 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of AXT by 8.3% during the 1st quarter. Systematic Financial Management LP now owns 1,380,505 shares of the semiconductor company’s stock worth $6,143,000 after purchasing an additional 105,778 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in shares of AXT by 27.9% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,265,074 shares of the semiconductor company’s stock worth $5,630,000 after purchasing an additional 276,290 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in shares of AXT by 43.6% during the 1st quarter. Kennedy Capital Management Inc. now owns 789,272 shares of the semiconductor company’s stock worth $3,512,000 after purchasing an additional 239,715 shares in the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

AXT Company Profile

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces 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, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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