AXT (NASDAQ:AXTI) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

AXT (NASDAQ:AXTI - Get Free Report) posted its quarterly earnings data on Thursday. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03, Yahoo Finance reports. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. The company had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. During the same quarter last year, the firm posted ($0.08) earnings per share.

AXT Stock Up 20.8 %

AXTI traded up $0.63 during trading on Friday, reaching $3.66. The company had a trading volume of 13,581,864 shares, compared to its average volume of 2,093,250. AXT has a 52 week low of $1.89 and a 52 week high of $5.64. The stock has a market cap of $161.96 million, a P/E ratio of -8.51 and a beta of 2.28. The business has a 50 day simple moving average of $4.03 and a 200-day simple moving average of $2.93.

Wall Street Analysts Forecast Growth

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.