Equities analysts expect that AXT Inc (NASDAQ:AXTI) will report $26.86 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for AXT’s earnings, with estimates ranging from $26.70 million to $27.10 million. AXT reported sales of $20.62 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that AXT will report full-year sales of $26.86 million for the current fiscal year, with estimates ranging from $115.60 million to $120.40 million. For the next financial year, analysts anticipate that the firm will report sales of $128.90 million per share. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover AXT.
AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. AXT had a return on equity of 5.81% and a net margin of 10.28%. The company had revenue of $26.33 million for the quarter, compared to the consensus estimate of $26.72 million. During the same period last year, the business posted $0.06 EPS. The company’s revenue was up 29.9% on a year-over-year basis.
AXTI has been the topic of several analyst reports. BidaskClub downgraded AXT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Dougherty & Co reiterated a “buy” rating on shares of AXT in a research note on Thursday, February 22nd. Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Finally, B. Riley lowered their target price on AXT from $8.75 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. AXT currently has an average rating of “Buy” and an average target price of $10.25.
Several institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its stake in shares of AXT by 10.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 74,674 shares of the semiconductor company’s stock valued at $650,000 after buying an additional 7,174 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of AXT by 94.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,550 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 10,451 shares in the last quarter. KBC Group NV boosted its stake in shares of AXT by 15.0% in the fourth quarter. KBC Group NV now owns 97,026 shares of the semiconductor company’s stock valued at $844,000 after buying an additional 12,684 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of AXT in the fourth quarter valued at approximately $126,000. Finally, Voya Investment Management LLC purchased a new stake in shares of AXT in the second quarter valued at approximately $100,000. Hedge funds and other institutional investors own 57.84% of the company’s stock.
AXT (NASDAQ:AXTI) opened at $7.85 on Friday. AXT has a 12 month low of $5.10 and a 12 month high of $10.75. The firm has a market capitalization of $309.38, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04.
ILLEGAL ACTIVITY NOTICE: “Zacks: Brokerages Anticipate AXT Inc (AXTI) Will Announce Quarterly Sales of $26.86 Million” was first reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://www.thelincolnianonline.com/2018/03/18/zacks-brokerages-anticipate-axt-inc-axti-will-announce-quarterly-sales-of-26-86-million.html.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.