AXT, Inc. Updates Expectations for the Third Quarter 2019
AXT Inc (AXTI)
Last axt inc earnings: 4/22 04:05 pm
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Source: GlobeNewswire
FREMONT, Calif., Oct. 02, 2019 (GLOBE NEWSWIRE) -- AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today provided an update to its expectations for the third quarter 2019 financial results, which will be announced on Oct. 30, 2019. The company now expects third quarter revenue to be in the range of $19.6 million to $20.0 million, due to a weaker than expected demand environment, particularly in data center connectivity and LED applications. In addition, raw material revenue was also lower than forecasted. The revised revenue expectation is down from the company’s previous guidance of $24.5 million to $26 million, provided at its second quarter earnings announcement on July 24, 2019. “Coming into Q3, we saw early signs of an improvement in the demand environment, as projected by our customers. But the orders did not materialize during the quarter,” said Morris Young, CEO. “While we do believe that all of our key markets are positioned for
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News
- AXT, Inc. (NASDAQ: AXTI) had its price target lowered by analysts at Northland Securities from $6.00 to $5.00. They now have an "outperform" rating on the stock.MarketBeat
- AXT, Inc. (NASDAQ: AXTI) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.MarketBeat
- AXT (AXTI) Reports Q3 Loss, Lags Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- AXT, Inc. Announces Third Quarter 2024 Financial ResultsBusiness Wire
- AXT, Inc.: Not Getting The Recognition It Deserves [Seeking Alpha]Seeking Alpha
AXTI
Earnings
- 10/31/24 - Beat
AXTI
Sec Filings
- 11/13/24 - Form 4
- 11/13/24 - Form 4
- 11/12/24 - Form 10-Q
- AXTI's page on the SEC website