Dougherty & Co Equities Analysts Reduce Earnings Estimates for AXT Inc (NASDAQ:AXTI)

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AXT Inc (NASDAQ:AXTI) – Equities researchers at Dougherty & Co lowered their FY2019 earnings estimates for AXT in a research note issued to investors on Thursday, July 25th, according to Zacks Investment Research. Dougherty & Co analyst C. Trebnick now anticipates that the semiconductor company will earn $0.04 per share for the year, down from their previous forecast of $0.08. Dougherty & Co also issued estimates for AXT’s FY2020 earnings at $0.14 EPS.

Other equities analysts also recently issued reports about the company. ValuEngine upgraded AXT from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research cut AXT from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. AXT has a consensus rating of “Hold” and an average target price of $5.38.

Shares of NASDAQ AXTI opened at $4.00 on Monday. The business’s 50 day simple moving average is $4.04. The firm has a market capitalization of $158.83 million, a P/E ratio of 16.67, a PEG ratio of 3.10 and a beta of 1.46. AXT has a 12-month low of $3.55 and a 12-month high of $7.95.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $24.80 million during the quarter, compared to the consensus estimate of $24.11 million. AXT had a return on equity of 1.68% and a net margin of 3.36%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share.

A number of large investors have recently made changes to their positions in AXTI. BNP Paribas Arbitrage SA increased its holdings in shares of AXT by 507.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 6,625 shares in the last quarter. Eidelman Virant Capital bought a new position in shares of AXT in the second quarter valued at $59,000. Brinker Capital Inc. increased its holdings in shares of AXT by 299.2% in the first quarter. Brinker Capital Inc. now owns 45,823 shares of the semiconductor company’s stock valued at $204,000 after buying an additional 34,345 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of AXT in the fourth quarter valued at $209,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of AXT by 520.0% in the second quarter. JPMorgan Chase & Co. now owns 57,545 shares of the semiconductor company’s stock valued at $224,000 after buying an additional 48,263 shares in the last quarter. 57.23% of the stock is currently owned by hedge funds and other institutional investors.

AXT Company Profile

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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Earnings History and Estimates for AXT (NASDAQ:AXTI)

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