Yahoo Finance AXT (AXTI) Advances While Market Declines: Some Information for Investors
In the latest market close, AXT (AXTI) reached $2.94, with a +1.03% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Coming into today, shares of the semiconductor materials supplier had lost 41.68% in the past month. In that same time, the Computer and Technology sector lost 1.64%, while the S&P 500 lost 1.66%.
The investment community will be paying close attention to the earnings performance of AXT in its upcoming release. The company is slated to reveal its earnings on May 2, 2024. It is anticipated that the company will report an EPS of -$0.08, marking a 33.33% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21 million, up 8.19% from the year-ago period.
AXTI's full-year Zacks Consensus Estimates are calling for earnings of -$0.21 per share and revenue of $95.01 million. These results would represent year-over-year changes of +38.24% and +25.35%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AXT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, AXT holds a Zacks Rank of #2 (Buy).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
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
