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Surging Earnings Estimates Signal Good News for AXT Inc. (AXTI)

Zacks

AXT Inc. AXTI is a semiconductor company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AXTI’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that AXT Inc. could be a solid choice for investors.

Current Quarter Estimates for AXTI

In the past 30 days, 1 estimate has gone higher for AXT Inc. with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates increasing from 2 cents a share 30 days ago, to 4 cents today, a move of 100%.

Current Year Estimates for AXTI

Meanwhile, AXT Inc.’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from 8 cents per share 30 days ago to 13 cents per share today, an increase of 62.5%.

AXT INC Price and Consensus

AXT INC Price and Consensus | AXT INC Quote


Bottom Line

The stock has also started to move higher lately, adding 23.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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