AXT (NASDAQ:AXTI) Issues Q2 2024 Earnings Guidance

AXT (NASDAQ:AXTI) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of -0.050–0.030 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

Several brokerages have weighed in on AXTI. Wedbush restated an outperform rating and set a $6.00 target price on shares of AXT in a research report on Friday, May 3rd. B. Riley lifted their price objective on AXT from $3.80 to $5.50 and gave the stock a buy rating in a research report on Friday, April 5th. Craig Hallum upped their target price on AXT from $3.75 to $5.00 and gave the company a buy rating in a research note on Tuesday, April 9th. StockNews.com raised AXT from a sell rating to a hold rating in a research note on Monday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $5.00 target price on shares of AXT in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, AXT currently has a consensus rating of Moderate Buy and a consensus target price of $5.38.

AXT Stock Performance

AXTI stock opened at $3.57 on Friday. The stock’s 50 day moving average price is $3.95 and its 200 day moving average price is $2.97. The firm has a market cap of $157.97 million, a P/E ratio of -8.93 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 issued its quarterly earnings results 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 company had revenue of $22.69 million during 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 period in the previous year, the firm posted ($0.08) EPS. On average, research analysts predict that AXT will post -0.1 earnings per share for the current 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.