Zacks: Analysts Expect AXT, Inc. (NASDAQ:AXTI) to Post $0.11 EPS

Analysts expect AXT, Inc. (NASDAQ:AXTI) to post earnings per share of $0.11 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for AXT’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.10. AXT reported earnings of $0.02 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 450%. The firm is scheduled to issue its next earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that AXT will report full year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.38 to $0.40. For the next year, analysts anticipate that the company will post earnings of $0.47 per share, with EPS estimates ranging from $0.44 to $0.50. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for AXT.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Monday, July 26th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. AXT had a net margin of 9.24% and a return on equity of 5.28%. The company had revenue of $33.74 million for the quarter, compared to analyst estimates of $31.10 million.

A number of equities research analysts have commented on AXTI shares. BWS Financial reissued a “buy” rating on shares of AXT in a report on Thursday, July 29th. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, July 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AXT has an average rating of “Buy” and a consensus target price of $15.00.

In related news, CEO Morris S. Young sold 28,439 shares of the company’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $274,436.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Morris S. Young sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $10.49, for a total value of $419,600.00. The disclosure for this sale can be found here. 8.33% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its position in shares of AXT by 7.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 64,834 shares of the semiconductor company’s stock worth $712,000 after acquiring an additional 4,635 shares during the period. Invesco Ltd. lifted its position in shares of AXT by 394.7% in the 2nd quarter. Invesco Ltd. now owns 207,296 shares of the semiconductor company’s stock worth $2,276,000 after acquiring an additional 165,394 shares during the period. Metropolitan Life Insurance Co NY lifted its position in shares of AXT by 46,636.4% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,141 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 5,130 shares during the period. MetLife Investment Management LLC lifted its position in shares of AXT by 125.8% in the 2nd quarter. MetLife Investment Management LLC now owns 14,728 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 8,206 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of AXT in the 2nd quarter worth approximately $143,000. Institutional investors own 57.95% of the company’s stock.

Shares of AXTI traded down $0.16 during mid-day trading on Wednesday, reaching $7.61. 16,766 shares of the company’s stock were exchanged, compared to its average volume of 466,935. The stock has a market capitalization of $323.48 million, a PE ratio of 30.36 and a beta of 2.24. The business’s fifty day simple moving average is $9.53 and its 200-day simple moving average is $10.51. AXT has a 52-week low of $4.86 and a 52-week high of $15.84.

AXT Company Profile

AXT, Inc engages in the design, development, manufacture and distribution of compound and single element semiconductor substrates. It also sells specialty material substrates and raw materials used to make substrates and other related products. The company was founded by Morris S. Young and Davis Zhang in December 1986 and is headquartered in Fremont, CA.

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Earnings History and Estimates for AXT (NASDAQ:AXTI)

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