Brokerages Expect AXT Inc (NASDAQ:AXTI) Will Announce Quarterly Sales of $19.83 Million

Brokerages expect AXT Inc (NASDAQ:AXTI) to announce sales of $19.83 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for AXT’s earnings, with estimates ranging from $19.80 million to $19.89 million. AXT posted sales of $28.63 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 30.7%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 30th.

On average, analysts expect that AXT will report full year sales of $86.93 million for the current fiscal year, with estimates ranging from $84.90 million to $90.30 million. For the next year, analysts forecast that the company will report sales of $102.78 million, with estimates ranging from $95.55 million to $110.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for AXT.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. The firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $24.11 million. AXT had a return on equity of 1.68% and a net margin of 3.36%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS.

A number of research analysts have commented on AXTI shares. Zacks Investment Research lowered AXT from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Northland Securities reissued a “buy” rating on shares of AXT in a research note on Thursday, October 3rd. ValuEngine raised AXT from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Dougherty & Co downgraded AXT from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.38.

AXTI traded down $0.06 during mid-day trading on Friday, reaching $3.03. The stock had a trading volume of 5,077 shares, compared to its average volume of 243,616. The stock has a market capitalization of $123.85 million, a P/E ratio of 12.73, a P/E/G ratio of 59.80 and a beta of 1.51. The firm’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $4.17. AXT has a 52 week low of $2.75 and a 52 week high of $6.70.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of AXT by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,949,627 shares of the semiconductor company’s stock valued at $7,721,000 after purchasing an additional 42,739 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of AXT by 8.9% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,377,826 shares of the semiconductor company’s stock valued at $5,456,000 after purchasing an additional 112,752 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of AXT by 0.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 474,104 shares of the semiconductor company’s stock valued at $1,877,000 after purchasing an additional 3,430 shares during the period. Northern Trust Corp raised its stake in AXT by 3.1% during the 2nd quarter. Northern Trust Corp now owns 436,420 shares of the semiconductor company’s stock worth $1,729,000 after buying an additional 13,074 shares during the period. Finally, River & Mercantile Asset Management LLP acquired a new stake in AXT during the 2nd quarter worth $1,673,000. 58.07% of the stock is currently owned by 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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Earnings History and Estimates for AXT (NASDAQ:AXTI)

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