AXT (NASDAQ:AXTI) Releases Earnings Results

AXT (NASDAQ:AXTI) posted its quarterly earnings results on Thursday. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01), Zacks reports. AXT had a negative net margin of 14.75% and a negative return on equity of 5.87%. The company had revenue of $23.65 million for the quarter, compared to analysts’ expectations of $25.98 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. AXT updated its Q4 2024 guidance to -0.050–0.030 EPS.

AXT Price Performance

Shares of AXTI stock traded down $0.47 during trading on Friday, reaching $2.11. The company had a trading volume of 1,412,901 shares, compared to its average volume of 1,042,242. The company has a market capitalization of $93.86 million, a PE ratio of -6.59 and a beta of 2.23. The firm’s 50 day simple moving average is $2.46 and its two-hundred day simple moving average is $3.01. AXT has a one year low of $1.89 and a one year high of $5.64.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Northland Securities reduced their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of AXT in a research note on Friday. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of AXT in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, AXT has a consensus rating of “Moderate Buy” and a consensus target price 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.