Brokerages predict that AXT Inc (NASDAQ:AXTI) will report $20.05 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for AXT’s earnings, with the highest sales estimate coming in at $20.09 million and the lowest estimate coming in at $20.00 million. AXT posted sales of $22.23 million during the same quarter last year, which suggests a negative year over year growth rate of 9.8%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 19th.

According to Zacks, analysts expect that AXT will report full year sales of $84.88 million for the current fiscal year, with estimates ranging from $84.80 million to $84.94 million. For the next year, analysts anticipate that the company will report sales of $96.00 million, with estimates ranging from $94.00 million to $98.04 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for AXT.

AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. AXT had a negative net margin of 1.85% and a negative return on equity of 0.84%. The firm had revenue of $19.80 million for the quarter, compared to the consensus estimate of $19.80 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business’s revenue was down 30.8% on a year-over-year basis.

Several research analysts have weighed in on AXTI shares. Dougherty & Co downgraded shares of AXT from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Zacks Investment Research upgraded shares of AXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 31st. Northland Securities restated a “buy” rating and set a $6.00 price objective on shares of AXT in a report on Thursday, October 31st. TheStreet downgraded shares of AXT from a “c” rating to a “d+” rating in a report on Friday, November 1st. Finally, ValuEngine upgraded shares of AXT from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $5.58.

AXTI traded up $0.03 during trading on Friday, hitting $4.34. 11,619 shares of the company’s stock were exchanged, compared to its average volume of 221,665. The company has a quick ratio of 2.57, a current ratio of 4.69 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $3.77 and its two-hundred day moving average is $3.60. AXT has a fifty-two week low of $2.72 and a fifty-two week high of $6.14. The stock has a market cap of $173.35 million, a P/E ratio of 18.08 and a beta of 1.58.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXTI. JPMorgan Chase & Co. raised its holdings in shares of AXT by 520.0% in the second quarter. JPMorgan Chase & Co. now owns 57,545 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 48,263 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of AXT by 20.5% in the second quarter. Russell Investments Group Ltd. now owns 128,409 shares of the semiconductor company’s stock valued at $508,000 after purchasing an additional 21,822 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AXT by 40.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 104,065 shares of the semiconductor company’s stock valued at $413,000 after purchasing an additional 29,745 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of AXT by 712.6% in the second quarter. Renaissance Technologies LLC now owns 182,467 shares of the semiconductor company’s stock valued at $723,000 after purchasing an additional 160,011 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of AXT by 3.1% in the second quarter. Northern Trust Corp now owns 436,420 shares of the semiconductor company’s stock valued at $1,729,000 after purchasing an additional 13,074 shares during the last quarter. Hedge funds and other institutional investors own 53.73% of the company’s stock.

About AXT

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces 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, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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