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.

Wall Street Analyst Weigh In

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

AXT Trading Up 7.4 %

Shares of AXT stock opened at $3.93 on Tuesday. The stock has a 50-day moving average price of $4.02 and a 200 day moving average price of $2.95. The company has a market cap of $173.90 million, a P/E ratio of -9.82 and a beta of 2.28. AXT has a 1 year low of $1.89 and a 1 year high of $5.64.

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

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.