AXT Inc (NASDAQ:AXTI) posted its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02, Bloomberg Earnings reports. AXT had a net margin of 9.96% and a return on equity of 5.67%. The firm had revenue of $28.17 million for the quarter, compared to analyst estimates of $27.05 million. During the same quarter last year, the firm posted $0.07 earnings per share. AXT’s revenue for the quarter was up 28.8% compared to the same quarter last year.
Shares of AXT (NASDAQ:AXTI) traded up $0.05 during trading hours on Friday, reaching $8.75. 269,800 shares of the company’s stock traded hands, compared to its average volume of 601,683. AXT has a one year low of $4.35 and a one year high of $9.70. The firm has a market capitalization of $338.36, a P/E ratio of 36.25, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13.
In other news, VP Robert G. Ochrym sold 8,125 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $8.80, for a total transaction of $71,500.00. Following the completion of the sale, the vice president now owns 44,125 shares of the company’s stock, valued at $388,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Morris S. Young sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $8.86, for a total transaction of $443,000.00. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in AXT stock. State Street Corp increased its position in shares of AXT Inc (NASDAQ:AXTI) by 2,392.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 461,458 shares of the semiconductor company’s stock after purchasing an additional 442,945 shares during the quarter. State Street Corp owned 1.20% of AXT worth $2,931,000 at the end of the most recent reporting period. 60.76% of the stock is currently owned by institutional investors and hedge funds.
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Several research firms recently commented on AXTI. Zacks Investment Research lowered shares of AXT from a “buy” rating to a “hold” rating in a report on Wednesday. B. Riley increased their price objective on shares of AXT from $8.50 to $8.75 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective (up previously from $10.00) on shares of AXT in a research report on Thursday, October 26th. Finally, BidaskClub downgraded shares of AXT from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $9.95.
AXT Company Profile
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.
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