AXT Inc (AXTI) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.03 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.02. The company posted revenue of $20.50 million in the period, compared to analysts expectations of $19.97 million. The company’s revenue was down -2.4% compared to the same quarter last year.
Many Wall Street Analysts have commented on AXT Inc. AXT Inc was Upgraded by Craig Hallum to ” Buy” on May 3, 2016.
AXT Inc opened for trading at $4 and hit $4.01 on the upside on Thursday, eventually ending the session at $3.78, with a gain of 3.28% or 0.12 points. The heightened volatility saw the trading volume jump to 7,69,280 shares. Company has a market cap of $122 M.
AXT Inc. (AXT) is a developer and producer of compound and single element semiconductor substrates. Through its subsidiaries the Company manufactures its semiconductor substrates using the vertical gradient freeze (VGF) technology. AXT manufactures its products in the People’s Republic of China (PRC). The Company’s compound substrates combine gallium with arsenic (GaAs) or combine indium with phosphorous (InP). Its single-element substrates are made from germanium (Ge). The Company designs develops manufactures and distributes high-performance semiconductor substrates also known as wafers. The Company’s substrate products include GaAs (semi-insulating) GaAs (semi-conducting) InP and Ge which is used in Satellite and terrestrial solar cells and Optical applications.