$20.78 Million in Sales Expected for AXT Inc (AXTI) This Quarter

Equities research analysts expect that AXT Inc (NASDAQ:AXTI) will post sales of $20.78 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for AXT’s earnings, with the highest sales estimate coming in at $21.00 million and the lowest estimate coming in at $20.56 million. AXT posted sales of $24.42 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, April 24th.

On average, analysts expect that AXT will report full-year sales of $97.03 million for the current financial year, with estimates ranging from $95.00 million to $100.50 million. For the next financial year, analysts forecast that the business will post sales of $114.87 million, with estimates ranging from $114.73 million to $115.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow AXT.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). The company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $22.21 million. AXT had a net margin of 9.43% and a return on equity of 5.06%. AXT’s revenue was down 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded AXT from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. ValuEngine cut AXT from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 11th. Finally, TheStreet cut AXT from a “b-” rating to a “c+” rating in a report on Thursday, December 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $7.88.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in AXT by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 393,732 shares of the semiconductor company’s stock worth $1,712,000 after purchasing an additional 17,921 shares during the period. Raging Capital Management LLC bought a new position in AXT during the fourth quarter worth about $1,959,000. Ancora Advisors LLC grew its holdings in AXT by 59.1% during the fourth quarter. Ancora Advisors LLC now owns 225,030 shares of the semiconductor company’s stock worth $979,000 after purchasing an additional 83,556 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in AXT during the fourth quarter worth about $209,000. Finally, Bank of America Corp DE grew its holdings in AXT by 26.8% during the fourth quarter. Bank of America Corp DE now owns 130,684 shares of the semiconductor company’s stock worth $569,000 after purchasing an additional 27,646 shares during the period. Institutional investors own 54.95% of the company’s stock.

Shares of NASDAQ AXTI traded up $0.12 during mid-day trading on Friday, hitting $4.45. The company had a trading volume of 563,600 shares, compared to its average volume of 292,352. The stock has a market capitalization of $173.11 million, a price-to-earnings ratio of 18.54, a PEG ratio of 4.23 and a beta of 1.19. AXT has a one year low of $3.70 and a one year high of $9.38.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures 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, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.

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Earnings History and Estimates for AXT (NASDAQ:AXTI)

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