AXT (NASDAQ:AXTI) Posts Earnings Results, Misses Expectations By $0.01 EPS

AXT (NASDAQ:AXTI) issued its quarterly earnings results on Thursday. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01), Zacks reports. The firm had revenue of $23.65 million for the quarter, compared to analyst estimates of $25.98 million. AXT had a negative net margin of 14.75% and a negative return on equity of 5.87%. During the same period last year, the company earned ($0.14) EPS. AXT updated its Q4 2024 guidance to -0.050–0.030 EPS.

AXT Stock Down 18.1 %

Shares of NASDAQ:AXTI opened at $2.11 on Friday. The firm has a market cap of $93.86 million, a price-to-earnings ratio of -6.59 and a beta of 2.23. AXT has a 12 month low of $1.89 and a 12 month high of $5.64. The company’s fifty day simple moving average is $2.46 and its 200 day simple moving average is $3.01.

Wall Street Analysts Forecast Growth

AXTI has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $6.00 price target on shares of AXT in a research note on Monday, July 29th. StockNews.com lowered shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Northland Securities cut their price target on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of AXT in a research note on Friday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.30.

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.