AXT (NASDAQ:AXTI) Announces Quarterly Earnings Results

AXT (NASDAQ:AXTI) released its quarterly earnings results on Thursday. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08), Zacks reports. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%.

AXT Stock Performance

NASDAQ AXTI traded down $0.01 on Thursday, reaching $2.29. The company’s stock had a trading volume of 1,696,981 shares, compared to its average volume of 353,267. AXT has a twelve month low of $1.73 and a twelve month high of $5.64. The stock has a market cap of $102.48 million, a PE ratio of -9.16 and a beta of 2.08. The firm’s 50 day moving average is $2.19 and its two-hundred day moving average is $2.30.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Northland Securities lowered their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of AXT in a research report on Friday, November 1st. Finally, Wedbush restated an “outperform” rating and issued a $5.50 target price on shares of AXT in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, AXT has a consensus rating of “Moderate Buy” and an average price target of $5.20.

AXT Company Profile

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.