AXT Inc (NASDAQ:AXTI) - Research analysts at BWS Financial upped their Q3 2017 earnings per share estimates for AXT in a research report issued to clients and investors on Thursday. BWS Financial analyst H. Khorsand now anticipates that the semiconductor company will post earnings per share of $0.10 for the quarter, up from their previous forecast of $0.08. BWS Financial currently has a “Buy” rating and a $12.00 target price on the stock. BWS Financial also issued estimates for AXT’s Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.27 EPS, Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.13 EPS and FY2018 earnings at $0.42 EPS.
AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.05. AXT had a net margin of 8.15% and a return on equity of 4.80%. The company had revenue of $23.56 million during the quarter, compared to the consensus estimate of $22.55 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. TRADEMARK VIOLATION WARNING: “AXT Inc to Post Q3 2017 Earnings of $0.10 Per Share, BWS Financial Forecasts (NASDAQ:AXTI)” was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://stocknewstimes.com/2017/08/02/axt-inc-to-post-q3-2017-earnings-of-0-10-per-share-bws-financial-forecasts-nasdaqaxti.html.
A number of other equities research analysts also recently weighed in on the stock. B. Riley restated a “neutral” rating and issued a $8.50 price target on shares of AXT in a research note on Tuesday. BidaskClub upgraded shares of AXT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Friday, July 28th. Dougherty & Co restated a “buy” rating on shares of AXT in a research note on Saturday, June 17th. Finally, Needham & Company LLC raised their price target on shares of AXT from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $9.04.
AXT (NASDAQ:AXTI) opened at 9.15 on Monday. The company has a market capitalization of $350.49 million, a P/E ratio of 45.75 and a beta of 1.08. The firm has a 50 day moving average of $7.03 and a 200-day moving average of $6.60. AXT has a 52 week low of $3.62 and a 52 week high of $9.50.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of AXT by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,251,705 shares of the semiconductor company’s stock worth $10,808,000 after buying an additional 263,232 shares during the period. Renaissance Technologies LLC raised its position in shares of AXT by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 918,834 shares of the semiconductor company’s stock worth $4,410,000 after buying an additional 6,738 shares during the period. Northpointe Capital LLC acquired a new position in shares of AXT during the first quarter worth about $4,524,000. Essex Investment Management Co. LLC raised its position in shares of AXT by 31.9% in the first quarter. Essex Investment Management Co. LLC now owns 278,509 shares of the semiconductor company’s stock worth $1,615,000 after buying an additional 67,335 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of AXT by 34.2% in the first quarter. Wells Fargo & Company MN now owns 360,695 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 91,945 shares during the period. Institutional investors and hedge funds own 54.84% of the company’s stock.
In related news, Director Leonard J. Leblanc sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $7.27, for a total value of $36,350.00. Following the completion of the transaction, the director now owns 149,134 shares in the company, valued at approximately $1,084,204.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert G. Ochrym sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $6.93, for a total transaction of $51,975.00. Following the completion of the transaction, the vice president now owns 39,000 shares of the company’s stock, valued at approximately $270,270. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
About AXT
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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