AXT (NASDAQ:AXTI - Get Free Report) released its quarterly earnings results on Thursday. The semiconductor company reported ($0.07) 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 analysts' expectations of $25.98 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. During the same period in the previous year, the company posted ($0.14) earnings per share. AXT updated its Q4 2024 guidance to -0.050--0.030 EPS.
AXT Stock Down 18.1 %
Shares of AXT stock traded down $0.47 during midday trading on Friday, hitting $2.11. The company had a trading volume of 1,412,901 shares, compared to its average volume of 330,892. The stock has a market cap of $93.85 million, a price-to-earnings ratio of -8.44 and a beta of 2.22. The company has a fifty day simple moving average of $2.46 and a 200 day simple moving average of $3.01. AXT has a 12-month low of $1.89 and a 12-month high of $5.64.
Analyst Ratings Changes
AXTI has been the subject of several analyst reports. StockNews.com lowered shares of AXT from a "hold" rating to a "sell" rating in a research report on Monday, September 30th. Needham & Company LLC reissued a "buy" rating and set a $5.00 price target on shares of AXT in a research report on Friday. Northland Securities decreased their price target on shares of AXT from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Wedbush reissued an "outperform" rating and set a $6.00 price target on shares of AXT in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $5.30.
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About AXT
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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.
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