Zacks: Brokerages Anticipate AXT, Inc. (NASDAQ:AXTI) Will Announce Earnings of $0.07 Per Share

Wall Street analysts forecast that AXT, Inc. (NASDAQ:AXTI) will announce earnings per share of $0.07 for the current quarter, Zacks reports. Three analysts have made estimates for AXT’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.06. AXT reported earnings of $0.01 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 600%. The firm is scheduled to issue its next earnings results on Wednesday, July 28th.

On average, analysts expect that AXT will report full-year earnings of $0.29 per share for the current financial year, with EPS estimates ranging from $0.29 to $0.30. For the next fiscal year, analysts forecast that the firm will report earnings of $0.35 per share, with EPS estimates ranging from $0.30 to $0.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover AXT.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Tuesday, April 27th. The semiconductor company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. AXT had a return on equity of 3.42% and a net margin of 6.45%. The company had revenue of $31.35 million for the quarter, compared to the consensus estimate of $29.11 million.

AXTI has been the topic of a number of recent research reports. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday. BWS Financial raised their price objective on AXT from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, February 19th. Craig Hallum reissued a “buy” rating and issued a $17.00 price target on shares of AXT in a report on Friday, February 19th. Northland Securities raised their price target on AXT from $10.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, February 19th. Finally, B. Riley raised their price target on AXT from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Friday, February 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.20.

Shares of AXTI stock opened at $10.18 on Tuesday. AXT has a 1-year low of $4.30 and a 1-year high of $15.84. The company’s 50-day moving average is $10.44. The company has a market capitalization of $430.61 million, a P/E ratio of 63.63 and a beta of 2.28.

In other news, CEO Morris S. Young sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $12.25, for a total value of $490,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gary L. Fischer sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $12.52, for a total value of $125,200.00. Following the completion of the transaction, the chief financial officer now owns 318,495 shares of the company’s stock, valued at $3,987,557.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,550 shares of company stock valued at $1,216,568. Company insiders own 8.33% of the company’s stock.

Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of AXT in the first quarter worth about $36,000. Rockefeller Capital Management L.P. purchased a new position in AXT during the first quarter valued at approximately $46,000. Dorsey Wright & Associates raised its position in AXT by 134.9% during the first quarter. Dorsey Wright & Associates now owns 4,190 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 2,406 shares in the last quarter. Captrust Financial Advisors purchased a new position in AXT during the first quarter valued at approximately $77,000. Finally, Citigroup Inc. raised its position in AXT by 306.7% during the fourth quarter. Citigroup Inc. now owns 7,630 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 5,754 shares in the last quarter. Hedge funds and other institutional investors own 58.50% of the company’s stock.

About AXT

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.

Recommended Story: Neutral Rating

Get a free copy of the Zacks research report on AXT (AXTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for AXT (NASDAQ:AXTI)

Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.