Dougherty & Co Analysts Boost Earnings Estimates for AXT Inc (AXTI)
AXT Inc (NASDAQ:AXTI) – Equities research analysts at Dougherty & Co upped their FY2017 earnings per share (EPS) estimates for AXT in a note issued to investors on Monday. Dougherty & Co analyst J. Maxa now anticipates that the semiconductor company will earn $0.26 per share for the year, up from their previous estimate of $0.23. Dougherty & Co also issued estimates for AXT’s FY2018 earnings at $0.43 EPS.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. AXT had a net margin of 9.96% and a return on equity of 5.84%. The firm had revenue of $28.17 million during the quarter, compared to analyst estimates of $27.05 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Dougherty & Co Analysts Boost Earnings Estimates for AXT Inc (AXTI)” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://theolympiareport.com/2017/11/01/dougherty-co-analysts-boost-earnings-estimates-for-axt-inc-axti.html.
AXTI has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of AXT in a research note on Sunday, September 17th. Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research note on Friday, September 15th. BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. B. Riley reissued a “hold” rating and set a $8.50 target price on shares of AXT in a research note on Tuesday, October 24th. Finally, BWS Financial lifted their target price on shares of AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. AXT has an average rating of “Buy” and a consensus target price of $9.95.
AXT (AXTI) traded down 0.806% during midday trading on Wednesday, hitting $9.225. 36,909 shares of the stock traded hands. The company has a 50-day moving average of $9.01 and a 200-day moving average of $7.59. AXT has a 12 month low of $4.35 and a 12 month high of $9.70. The stock has a market cap of $354.03 million, a PE ratio of 46.125 and a beta of 1.16.
A number of large investors have recently bought and sold shares of AXTI. Bank of New York Mellon Corp grew its holdings in AXT by 314.4% in the first quarter. Bank of New York Mellon Corp now owns 148,703 shares of the semiconductor company’s stock worth $862,000 after purchasing an additional 112,818 shares during the period. Ameriprise Financial Inc. acquired a new stake in AXT in the first quarter worth $1,054,000. SG Americas Securities LLC acquired a new stake in AXT in the first quarter worth $105,000. Vanguard Group Inc. grew its holdings in AXT by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,457,029 shares of the semiconductor company’s stock worth $8,450,000 after purchasing an additional 36,065 shares during the period. Finally, Geode Capital Management LLC grew its holdings in AXT by 12.1% in the first quarter. Geode Capital Management LLC now owns 215,960 shares of the semiconductor company’s stock worth $1,252,000 after purchasing an additional 23,341 shares during the period. Institutional investors and hedge funds own 60.91% of the company’s stock.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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