AXT (NASDAQ:AXTI) Releases Earnings Results, Misses Expectations By $0.08 EPS

AXT (NASDAQ:AXTI) released its earnings results on Thursday. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08), Zacks reports. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%. The firm had revenue of $25.11 million during the quarter, compared to analysts’ expectations of $23.94 million.

AXT Trading Down 31.0 %

AXTI stock opened at $1.58 on Friday. AXT has a fifty-two week low of $1.56 and a fifty-two week high of $5.64. The business’s 50 day moving average price is $2.17 and its two-hundred day moving average price is $2.29.

Wall Street Analysts Forecast Growth

AXTI has been the subject of a number of recent research reports. Northland Securities decreased their target price on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of AXT in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $4.50 price target (down previously from $5.50) on shares of AXT in a research note on Friday. Finally, B. Riley reissued a “buy” rating and issued a $6.00 target price (up previously from $5.50) on shares of AXT in a research note on Friday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.10.

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.