DA Davidson Raises Price Target on AXT (AXTI) Following Solid Q1 Guidance
Tweet
Share
E-mailGet Alerts AXTI Hot Sheet
Price: $70.74 -3.25%
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Following the release of its Q4 results, DA Davidson reiterated its Buy rating and raised its price target from $7 to $8 on shares of AXT, Inc. (NASDAQ: AXTI).
Results for the quarter fell roughly inline with expectations although earnings missed expectations by $0.01 and sales missed by $100,000. Despite the miss, management guided Q1 revenues above expectations and earnings right inline.
An analyst at DA Davidson comments, "While the sequentially up guidance may be a surprise, given some of the recent muted guidance from the company’s key wireless customers, we point out that AXTI’s business had already seen a much larger decline in Q3 and Q4 (-6% and -25%, respectively) compared to its customers."
The firm raised its Q1 sales and EPS estimates from $19 million and $0.07 to $23 million and $0.09. For FY12, the firm tweaked its estimates from $103 million and $0.50 to $107 million and $0.47.
DA Davidson also released its FY13 estimates, which call for $125 million in revenues and $0.56 per share in earnings.
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.
Results for the quarter fell roughly inline with expectations although earnings missed expectations by $0.01 and sales missed by $100,000. Despite the miss, management guided Q1 revenues above expectations and earnings right inline.
An analyst at DA Davidson comments, "While the sequentially up guidance may be a surprise, given some of the recent muted guidance from the company’s key wireless customers, we point out that AXTI’s business had already seen a much larger decline in Q3 and Q4 (-6% and -25%, respectively) compared to its customers."
The firm raised its Q1 sales and EPS estimates from $19 million and $0.07 to $23 million and $0.09. For FY12, the firm tweaked its estimates from $103 million and $0.50 to $107 million and $0.47.
DA Davidson also released its FY13 estimates, which call for $125 million in revenues and $0.56 per share in earnings.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Is the global equity rally broadening? UBS weighs in
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
D.A. Davidson, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
