AXT Inc's stock soared 10.67% during intraday trading on Friday, driven by a combination of better-than-expected quarterly results, significant analyst price target increases, and optimistic growth projections for the coming year.
The semiconductor materials manufacturer reported a narrower fourth-quarter adjusted loss of $0.05 per share, beating the consensus analyst estimate of a $0.06 loss. This performance marked an improvement from the same period last year and contributed to positive investor sentiment.
Adding to the bullish momentum, multiple analysts raised their price targets on AXT Inc. Wedbush significantly increased its target to $28 from $8.5, while B. Riley raised its target to $21 from $18. Furthermore, the company announced it remains on track to double its indium phosphide manufacturing capacity in 2026, signaling strong future growth prospects in the semiconductor materials market.
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