Yahoo Finance AXT (AXTI) Surpasses Market Returns: Some Facts Worth Knowing
AXT (AXTI) ended the recent trading session at $2.82, demonstrating a +1.81% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.87% gain on the day. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.11%.
The the stock of semiconductor materials supplier has fallen by 44.04% in the past month, lagging the Computer and Technology sector's loss of 5.98% and the S&P 500's loss of 3.97%.
Market participants will be closely following the financial results of AXT in its upcoming release. The company plans to announce its earnings on May 2, 2024. In that report, analysts expect AXT to post earnings of -$0.08 per share. This would mark a year-over-year decline of 33.33%. In the meantime, our current consensus estimate forecasts the revenue to be $21 million, indicating an 8.19% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.21 per share and a revenue of $95.01 million, representing changes of +38.24% and +25.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AXT. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, AXT holds a Zacks Rank of #2 (Buy).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 154, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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AXT Inc (AXTI) : Free Stock Analysis Report
