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

AXT (NASDAQ:AXTI) announced its quarterly earnings data on Thursday. The semiconductor company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08), Zacks reports. The firm had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. AXT had a negative return on equity of 5.27% and a negative net margin of 11.70%.

AXT Price Performance

Shares of AXTI stock opened at $1.58 on Friday. The stock has a 50-day moving average of $2.17 and a 200-day moving average of $2.29. AXT has a 1-year low of $1.56 and a 1-year high of $5.64.

Wall Street Analyst Weigh In

AXTI has been the topic of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $6.00 target price (up previously from $5.50) on shares of AXT in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of AXT in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $4.50 price target (down previously from $5.50) on shares of AXT in a research report on Friday. Finally, Northland Securities lowered their price target on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.10.

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.