$26.78 Million in Sales Expected for AXT Inc (AXTI) This Quarter
Wall Street analysts expect that AXT Inc (NASDAQ:AXTI) will post sales of $26.78 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for AXT’s earnings, with estimates ranging from $26.50 million to $27.00 million. AXT posted sales of $20.27 million in the same quarter last year, which suggests a positive year-over-year growth rate of 32.1%. The business is expected to announce its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that AXT will report full year sales of $26.78 million for the current financial year, with estimates ranging from $98.18 million to $99.24 million. For the next financial year, analysts forecast that the company will post sales of $117.32 million per share, with estimates ranging from $112.90 million to $120.40 million. Zacks’ sales averages are an average based on a survey of research firms that follow AXT.
AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. The firm had revenue of $28.17 million during the quarter, compared to analyst estimates of $27.05 million. AXT had a net margin of 9.96% and a return on equity of 5.67%. The business’s revenue was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS.
A number of research analysts have recently commented on AXTI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of AXT in a research report on Sunday, September 17th. Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Friday, September 15th. BidaskClub lowered shares of AXT from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Finally, B. Riley upped their price objective on shares of AXT from $8.50 to $8.75 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $9.95.
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AXT (AXTI) opened at $9.20 on Friday. The firm has a market cap of $336.41, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13. AXT has a 52-week low of $4.35 and a 52-week high of $9.70.
In other news, CEO Morris S. Young sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $8.86, for a total transaction of $443,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gary L. Fischer sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $9.16, for a total transaction of $183,200.00. Following the completion of the sale, the chief financial officer now directly owns 84,515 shares in the company, valued at approximately $774,157.40. The disclosure for this sale can be found here. Insiders have sold 103,375 shares of company stock valued at $923,435 in the last ninety days. 6.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in AXT by 12.1% in the first quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock valued at $1,252,000 after acquiring an additional 23,341 shares during the period. Royce & Associates LP increased its stake in AXT by 13.5% in the second quarter. Royce & Associates LP now owns 918,980 shares of the semiconductor company’s stock valued at $5,836,000 after acquiring an additional 109,237 shares during the period. Rhumbline Advisers bought a new stake in AXT in the second quarter valued at about $253,000. Goldman Sachs Group Inc. increased its stake in AXT by 216.0% in the first quarter. Goldman Sachs Group Inc. now owns 155,687 shares of the semiconductor company’s stock valued at $903,000 after acquiring an additional 106,426 shares during the period. Finally, Vanguard Group Inc. increased its stake in AXT by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,457,029 shares of the semiconductor company’s stock valued at $8,450,000 after acquiring an additional 36,065 shares during the period. 60.56% of the stock is currently owned by institutional investors and hedge funds.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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