AXT (NASDAQ:AXTI) Issues Q2 2024 Earnings Guidance

AXT (NASDAQ:AXTI) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of -0.050–0.030 for the period, compared to the consensus estimate of -0.050. The company issued revenue guidance of $25.5 million-$27.5 million, compared to the consensus revenue estimate of $26.3 million.

AXT Stock Performance

NASDAQ AXTI opened at $3.93 on Tuesday. The company has a market cap of $173.90 million, a PE ratio of -9.82 and a beta of 2.28. The firm’s 50 day moving average price is $4.02 and its 200-day moving average price is $2.95. AXT has a 52-week low of $1.89 and a 52-week high of $5.64.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $22.69 million for the quarter, compared to the consensus estimate of $21.00 million. AXT had a negative return on equity of 7.36% and a negative net margin of 21.01%. During the same quarter last year, the company earned ($0.08) earnings per share. On average, analysts forecast that AXT will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AXTI shares. B. Riley increased their price objective on AXT from $3.80 to $5.50 and gave the company a buy rating in a report on Friday, April 5th. Wedbush reissued an outperform rating and set a $6.00 price target on shares of AXT in a research report on Friday. Craig Hallum upped their price objective on shares of AXT from $3.75 to $5.00 and gave the company a buy rating in a report on Tuesday, April 9th. StockNews.com raised shares of AXT from a sell rating to a hold rating in a report on Monday. Finally, Needham & Company LLC restated a buy rating and set a $5.00 target price on shares of AXT in a research report on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $5.38.

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.