AXT (NASDAQ:AXTI) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

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

AXT Price Performance

Shares of NASDAQ AXTI opened at $2.29 on Friday. The company’s fifty day moving average price is $2.19 and its 200 day moving average price is $2.30. AXT has a 1 year low of $1.73 and a 1 year high of $5.64.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $5.50 price objective on shares of AXT in a research note on Friday, February 7th. Northland Securities cut their price target on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of AXT in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, AXT has an average rating of “Moderate Buy” and a consensus price target of $5.20.

About AXT

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.