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Increased Earnings Estimates Seen for AXT (AXTI): Can It Move Higher?

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AXT Inc. (AXTI - Free Report) is an electronic component 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 could be a solid choice for investors.

Current Quarter Estimates for AXTI

In the past 30 days, 2 estimates have gone higher for AXT while 1 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a penny per share 30 days ago, to 2 cents today, a significant move.

Current Year Estimates for AXTI

Meanwhile, AXT’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 4 cents per share 30 days ago to 66 cents per share today, a significant  increase.

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 16.3% 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 #2 (Buy) stock to profit in the near future.

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