Zacks: Analysts Anticipate AXT Inc (AXTI) Will Announce Quarterly Sales of $28.13 Million

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Wall Street brokerages expect that AXT Inc (NASDAQ:AXTI) will report sales of $28.13 million for the current fiscal quarter, according to Zacks Investment Research. 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 posted sales of $28.17 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.1%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, October 31st.

On average, analysts expect that AXT will report full-year sales of $107.96 million for the current fiscal year, with estimates ranging from $107.00 million to $108.50 million. For the next year, analysts forecast that the company 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 an average based on a survey of research firms that cover AXT.

AXT (NASDAQ:AXTI) last announced its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. AXT had a net margin of 13.51% and a return on equity of 7.72%. The company had revenue of $27.12 million during the quarter, compared to analyst estimates of $26.10 million. During the same quarter last year, the business posted $0.05 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis.

A number of research analysts have commented on the stock. ValuEngine downgraded shares of AXT from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Zacks Investment Research downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. B. Riley raised 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. BidaskClub downgraded shares of AXT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Finally, Dougherty & Co reissued a “buy” rating on shares of AXT in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.17.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXTI. Campbell & CO Investment Adviser LLC purchased a new position in AXT during the 2nd quarter valued at about $112,000. Millrace Asset Group Inc. purchased a new position in shares of AXT in the 1st quarter worth approximately $130,000. MetLife Investment Advisors LLC grew its position in shares of AXT by 220.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after buying an additional 13,069 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of AXT in the 2nd quarter worth approximately $141,000. Finally, Bank of America Corp DE grew its position in shares of AXT by 804.2% in the 2nd quarter. Bank of America Corp DE now owns 31,746 shares of the semiconductor company’s stock worth $223,000 after buying an additional 28,235 shares during the last quarter. 55.08% of the stock is currently owned by institutional investors and hedge funds.

AXTI traded up $0.26 on Wednesday, reaching $6.29. 467,323 shares of the company traded hands, compared to its average volume of 431,048. AXT has a one year low of $5.80 and a one year high of $10.75. The firm has a market capitalization of $282.50 million, a price-to-earnings ratio of 24.19, a PEG ratio of 1.33 and a beta of 1.09.

About AXT

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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