AXT (NASDAQ:AXTI) Releases Q4 2024 Earnings Guidance

by · The Markets Daily

AXT (NASDAQ:AXTI – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.050–0.030 for the period, compared to the consensus estimate of -0.040. The company issued revenue guidance of $23.0 million-$25.0 million, compared to the consensus revenue estimate of $27.6 million.

AXT Trading Down 18.1 %

Shares of NASDAQ AXTI traded down $0.47 during mid-day trading on Friday, hitting $2.11. The company had a trading volume of 1,412,901 shares, compared to its average volume of 330,892. The company has a market capitalization of $93.85 million, a PE ratio of -8.44 and a beta of 2.22. The firm has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $3.01. AXT has a one year low of $1.89 and a one year high of $5.64.

AXT (NASDAQ:AXTI – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The business had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. During the same quarter in the previous year, the business posted ($0.14) EPS. Sell-side analysts expect that AXT will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AXTI. StockNews.com cut AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Wedbush reiterated an “outperform” rating and set a $6.00 price target on shares of AXT in a report on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of AXT in a report on Friday. Finally, Northland Securities reduced their price target on AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.30.

View Our Latest Stock Analysis on AXT

About AXT

(Get Free Report)

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.

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