On August 4, AXT Inc rose 8.05% in pre-market trading, trading at $74.0 per share, with turnover of $5.79 million. The rebound comes as the semiconductor equipment sector broadly recovered, with Applied Materials up 2.95%, Lam Research up 3.19%, and KLA Corporation up 3.15%, providing sector-wide tailwinds.
The move represents an oversold recovery after AXT fell 9.13% on August 3 amid a broad semiconductor pullback. The stock remains supported by its Q2 earnings report released July 30, which significantly exceeded expectations. Revenue came in at $47.59 million versus the consensus estimate of $34.09 million, while adjusted EPS of $0.19 beat the $0.07 estimate by 171%. Indium phosphide substrate revenue reached a record high, driven by AI data center demand, and management characterized the quarter as a business inflection point. Wedbush maintained its outperform rating, noting the company is well-positioned to capitalize on AI-fueled opportunities still in early innings.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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