AXT (NASDAQ:AXTI) Announces Quarterly Earnings Results

AXT (NASDAQ:AXTI) issued its earnings results on Thursday. The semiconductor company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08), Zacks reports. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%.

AXT Price Performance

AXTI traded down $0.01 during trading on Thursday, hitting $2.29. The company’s stock had a trading volume of 1,696,981 shares, compared to its average volume of 353,267. The stock has a market cap of $102.48 million, a PE ratio of -9.16 and a beta of 2.08. The firm’s 50 day moving average price is $2.19 and its 200-day moving average price is $2.30. AXT has a twelve month low of $1.73 and a twelve month high of $5.64.

Analyst Upgrades and Downgrades

AXTI has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $5.50 target price on shares of AXT in a report on Friday, February 7th. Finally, Northland Securities dropped 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, November 1st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.20.

About AXT

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.