Needham & Company Maintains a 'Buy' on AXT, Inc. (AXTI); Better Guidance Suggests Business Had Bottomed
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Price: $81.64 +5.41%
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on AXT, Inc. (NASDAQ: AXTI) price target raised from $7.00 to $8.00.
Analyst, Y. Edwin Mok, said, "AXTI 4Q11 results were slightly below consensus estimates, but guidance was better than expected. We believe expectations were low going into the report given weak datapoints in the RF and LED markets, and lower raw material prices. However, it appears customer inventory work-downs are mostly complete and AXTI is making progress in winning new business. Additionally, the report highlighted advantages of AXTI’s vertically integrated business model. We continue to believe AXTI will participate in long-term unit growth in mobile, LED, fiber optics and solar."
"Based on stronger guidance, we increase our 2012 EPS estimate to $0.50 (from $0.47) and 2013 to $0.60 (from $0.55)."
For an analyst ratings summary and ratings history on AXT, Inc. click here. For more ratings news on AXT, Inc. click here.
Shares of AXT, Inc. closed at $5.10 yesterday.
Analyst, Y. Edwin Mok, said, "AXTI 4Q11 results were slightly below consensus estimates, but guidance was better than expected. We believe expectations were low going into the report given weak datapoints in the RF and LED markets, and lower raw material prices. However, it appears customer inventory work-downs are mostly complete and AXTI is making progress in winning new business. Additionally, the report highlighted advantages of AXTI’s vertically integrated business model. We continue to believe AXTI will participate in long-term unit growth in mobile, LED, fiber optics and solar."
"Based on stronger guidance, we increase our 2012 EPS estimate to $0.50 (from $0.47) and 2013 to $0.60 (from $0.55)."
For an analyst ratings summary and ratings history on AXT, Inc. click here. For more ratings news on AXT, Inc. click here.
Shares of AXT, Inc. closed at $5.10 yesterday.
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