AXT Inc (NASDAQ:AXTI) – Equities research analysts at Dougherty & Co increased their FY2019 earnings per share estimates for shares of AXT in a note issued to investors on Thursday, April 25th, Zacks Investment Research reports. Dougherty & Co analyst C. Trebnick now expects that the semiconductor company will earn $0.08 per share for the year, up from their prior estimate of $0.02.
Several other equities analysts also recently commented on AXTI. Zacks Investment Research downgraded AXT from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. ValuEngine upgraded AXT from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $6.25.
AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. AXT had a return on equity of 2.97% and a net margin of 5.78%. The firm had revenue of $20.20 million for the quarter, compared to the consensus estimate of $20.69 million. During the same quarter in the previous year, the business earned $0.07 EPS. The company’s revenue was down 17.2% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in AXT by 0.5% during the 3rd quarter. BlackRock Inc. now owns 2,667,103 shares of the semiconductor company’s stock valued at $19,069,000 after acquiring an additional 13,734 shares during the period. Dimensional Fund Advisors LP raised its holdings in AXT by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,320,596 shares of the semiconductor company’s stock valued at $23,742,000 after acquiring an additional 39,600 shares during the period. Delta Investment Management LLC bought a new stake in AXT during the 4th quarter valued at $190,000. Rhumbline Advisers raised its holdings in AXT by 42.5% during the 4th quarter. Rhumbline Advisers now owns 52,855 shares of the semiconductor company’s stock valued at $230,000 after acquiring an additional 15,765 shares during the period. Finally, First Trust Advisors LP raised its holdings in AXT by 18.8% during the 4th quarter. First Trust Advisors LP now owns 63,426 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 10,016 shares during the period. Institutional investors and hedge funds own 54.87% of the company’s stock.
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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