Analysts expect AXT Inc (NASDAQ:AXTI) to report sales of $28.13 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for AXT’s earnings. The highest sales estimate is $28.39 million and the lowest is $28.00 million. AXT posted sales of $28.17 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.1%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, October 31st.

According to Zacks, 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 anticipate that the firm will post sales of $129.47 million, with estimates ranging from $126.64 million to $132.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for AXT.

AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, July 25th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. AXT had a return on equity of 7.72% and a net margin of 13.51%. The business had revenue of $27.12 million during the quarter, compared to analysts’ expectations of $26.10 million. During the same period in the prior year, the firm posted $0.05 EPS. AXT’s quarterly revenue was up 15.1% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the company. BidaskClub cut AXT from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine cut AXT from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Dougherty & Co reaffirmed a “buy” rating on shares of AXT in a report on Wednesday, August 1st. Zacks Investment Research raised AXT from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Tuesday, July 24th. Finally, B. Riley raised their price target on AXT from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.17.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC acquired a new stake in shares of AXT in the 2nd quarter valued at $112,000. Millrace Asset Group Inc. bought a new position in shares of AXT in the 1st quarter worth $130,000. MetLife Investment Advisors LLC boosted 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 purchasing an additional 13,069 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of AXT in the 2nd quarter worth $141,000. Finally, Bank of America Corp DE boosted 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 purchasing an additional 28,235 shares during the last quarter. 55.08% of the stock is owned by institutional investors.

Shares of AXTI traded up $0.26 during mid-day trading on Wednesday, reaching $6.29. The company had a trading volume of 467,323 shares, compared to its average volume of 431,048. AXT has a twelve month low of $5.80 and a twelve month high of $10.75. The stock has a market cap of $282.50 million, a PE 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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Earnings History and Estimates for AXT (NASDAQ:AXTI)

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