AXT (NASDAQ:AXTI) Announces Earnings Results

AXT (NASDAQ:AXTI) issued its earnings results on Thursday. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08), Zacks reports. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%.

AXT Stock Performance

NASDAQ:AXTI traded down $0.01 during trading hours on Thursday, reaching $2.29. The company’s stock had a trading volume of 1,707,254 shares, compared to its average volume of 357,074. The firm has a 50-day simple moving average of $2.19 and a 200-day simple moving average of $2.30. AXT has a 1 year low of $1.73 and a 1 year high of $5.64. The firm has a market capitalization of $102.48 million, a price-to-earnings ratio of -9.16 and a beta of 2.08.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AXTI. Wedbush restated an “outperform” rating and issued a $5.50 price objective on shares of AXT in a research note on Friday, February 7th. Northland Securities decreased their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of AXT in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.20.

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.