AXT (NASDAQ:AXTI) Updates Q4 2024 Earnings Guidance

AXT (NASDAQ:AXTI) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of -0.050–0.030 for the period, compared to the consensus EPS estimate of -0.040. The company issued revenue guidance of $23.0 million-$25.0 million, compared to the consensus revenue estimate of $27.6 million.

AXT Stock Performance

Shares of NASDAQ:AXTI traded down $0.47 during midday trading on Friday, reaching $2.11. 1,412,901 shares of the company’s stock were exchanged, compared to its average volume of 330,892. The company’s 50 day simple moving average is $2.46 and its two-hundred day simple moving average is $3.01. AXT has a 12 month low of $1.89 and a 12 month high of $5.64. The firm has a market capitalization of $93.85 million, a PE ratio of -8.44 and a beta of 2.22.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same quarter in the prior year, the business earned ($0.14) EPS. On average, research analysts anticipate that AXT will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

AXTI has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of AXT in a research note on Friday. Northland Securities cut their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price on shares of AXT in a report on Monday, July 29th. Finally, StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.30.

About AXT

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.