Wall Street analysts predict that AXT Inc (NASDAQ:AXTI) will announce $28.13 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for AXT’s earnings, with the lowest sales estimate coming in at $28.00 million and the highest estimate coming in at $28.39 million. AXT reported sales of $28.17 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The company is expected to announce its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that AXT will report full-year sales of $107.96 million for the current financial year, with estimates ranging from $107.00 million to $108.50 million. For the next financial year, analysts anticipate that the firm will post sales of $129.47 million, with estimates ranging from $126.64 million to $132.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow AXT.

AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. AXT had a net margin of 13.51% and a return on equity of 7.72%. The firm had revenue of $27.12 million during the quarter, compared to the consensus estimate of $26.10 million. During the same period in the prior year, the firm earned $0.05 EPS. The company’s revenue was up 15.1% compared to the same quarter last year.

A number of research firms have recently weighed in on AXTI. B. Riley increased their target price on shares of AXT from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, July 20th. TheStreet raised shares of AXT from a “c+” rating to a “b-” rating in a research report on Tuesday, June 5th. BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a research report on Thursday, June 7th. ValuEngine raised shares of AXT from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Finally, Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. AXT currently has a consensus rating of “Hold” and a consensus price target of $10.17.

Hedge funds have recently made changes to their positions in the stock. Foundry Partners LLC lifted its stake in shares of AXT by 31.7% during the 2nd quarter. Foundry Partners LLC now owns 467,225 shares of the semiconductor company’s stock valued at $3,294,000 after buying an additional 112,400 shares in the last quarter. Ariel Investments LLC lifted its stake in shares of AXT by 7.6% during the 2nd quarter. Ariel Investments LLC now owns 283,741 shares of the semiconductor company’s stock valued at $2,000,000 after buying an additional 20,018 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of AXT by 9.2% during the 1st quarter. Wells Fargo & Company MN now owns 395,698 shares of the semiconductor company’s stock valued at $2,869,000 after buying an additional 33,191 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of AXT by 27.6% during the 2nd quarter. Systematic Financial Management LP now owns 1,142,463 shares of the semiconductor company’s stock valued at $8,054,000 after buying an additional 246,999 shares in the last quarter. Finally, Kaizen Advisory LLC lifted its stake in shares of AXT by 300.7% during the 2nd quarter. Kaizen Advisory LLC now owns 135,366 shares of the semiconductor company’s stock valued at $954,000 after buying an additional 101,582 shares in the last quarter. Institutional investors own 55.08% of the company’s stock.

Shares of AXT stock traded down $0.10 on Friday, reaching $7.17. 1,446 shares of the company traded hands, compared to its average volume of 297,712. AXT has a 52 week low of $5.80 and a 52 week high of $10.75. The company has a market capitalization of $296.33 million, a P/E ratio of 27.69, a P/E/G ratio of 1.40 and a beta of 1.05.

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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