Stock Track | AXT Inc Soars 5.15% in Pre-Market on Strong Earnings Beat and Surging AI Optical Communication Demand

Stock Track05-08

AXT Inc's stock surged 5.15% in pre-market trading, breaking through its prior 52-week high to reach a new all-time high.

The rally follows the company's recently reported first-quarter earnings, which significantly exceeded expectations with an EPS loss of $0.03 compared to the consensus estimate of a $0.07 loss. Revenue grew 38.7% year-over-year to $26.924 million, while non-GAAP gross margin improved to 29.9%.

Market sentiment was further boosted by Wedbush's substantial price target increase from $28 to $80, strong backlog orders exceeding $60 million, and positive second-quarter revenue guidance of $34 million with an expectation to achieve profitability. The sustained demand for the company's indium phosphide substrates, driven by AI data center high-speed optical transmission requirements, along with a recent capital raise to fund capacity expansion, continues to reinforce investor confidence in its growth trajectory.

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