AXT (NASDAQ:AXTI) Announces Earnings Results, Misses Estimates By $0.01 EPS

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

AXT Stock Performance

AXTI traded down $0.47 during midday trading on Friday, hitting $2.11. The stock had a trading volume of 1,412,901 shares, compared to its average volume of 1,042,242. The company has a market cap of $93.86 million, a P/E ratio of -6.59 and a beta of 2.23. AXT has a 1 year low of $1.89 and a 1 year high of $5.64. The business has a fifty day moving average of $2.46 and a 200 day moving average of $3.01.

Analyst Ratings Changes

Several research analysts have commented on AXTI shares. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of AXT in a research note on Friday. Wedbush reissued an “outperform” rating and issued a $6.00 price objective on shares of AXT in a research note on Monday, July 29th. Finally, Northland Securities dropped their price objective on shares of AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.