AXT, Inc. (NASDAQ:AXTI) Expected to Earn Q1 2024 Earnings of $0.07 Per Share

1 month ago Defense World

AXT, Inc. (NASDAQ:AXTI – Get Rating) – Stock analysts at Wedbush issued their Q1 2024 earnings per share estimates for AXT in a research report issued to clients and investors on Friday, February 17th. Wedbush analyst M. Bryson anticipates that the semiconductor company will post earnings per share of $0.07 for the quarter. The consensus estimate for AXT’s current full-year earnings is $0.36 per share. Wedbush also issued estimates for AXT’s Q2 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.16 EPS and FY2024 earnings at $0.47 EPS.

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AXTI has been the subject of several other research reports. StockNews.com upgraded AXT from a “sell” rating to a “hold” rating in a research report on Wednesday, November 30th. Needham & Company LLC cut their target price on AXT from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, October 28th. B. Riley cut their target price on AXT from $5.50 to $5.00 in a research report on Friday. Finally, Craig Hallum cut AXT from a “buy” rating to a “hold” rating and cut their target price for the stock from $7.00 to $5.50 in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AXT currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.58.

AXT Trading Down 17.3 %

Hedge Funds Weigh In On AXT

NASDAQ:AXTI opened at $4.88 on Monday. AXT has a 12-month low of $4.17 and a 12-month high of $9.94. The stock has a 50-day moving average price of $5.27 and a 200 day moving average price of $6.10. The stock has a market capitalization of $212.54 million, a P/E ratio of 13.56 and a beta of 2.06.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXTI. Granahan Investment Management LLC boosted its stake in AXT by 41.1% during the fourth quarter. Granahan Investment Management LLC now owns 1,433,444 shares of the semiconductor company’s stock valued at $6,278,000 after buying an additional 417,483 shares during the last quarter. Needham Investment Management LLC lifted its stake in shares of AXT by 18.2% in the 4th quarter. Needham Investment Management LLC now owns 1,460,450 shares of the semiconductor company’s stock valued at $6,397,000 after purchasing an additional 225,000 shares during the last quarter. Oberweis Asset Management Inc. bought a new stake in shares of AXT in the 3rd quarter valued at approximately $1,467,000. First Wilshire Securities Management Inc. lifted its stake in shares of AXT by 46.9% in the 3rd quarter. First Wilshire Securities Management Inc. now owns 489,825 shares of the semiconductor company’s stock valued at $3,282,000 after purchasing an additional 156,457 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of AXT by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,173,175 shares of the semiconductor company’s stock valued at $13,899,000 after purchasing an additional 116,977 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

About AXT

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AXT, Inc engages in the design, development, manufacture and distribution of compound and single element semiconductor substrates. It also sells specialty material substrates and raw materials used to make substrates and other related products. The company was founded by Morris S. Young and Davis Zhang in 1986 and is headquartered in Fremont, CA.

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