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AXT Inc(AXTI)
Top performer 
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for AXTI
09/14/2026: AXTI (3-star) is currently NOT-A-BUY. Pass it for now.
AXT Inc is a specialized manufacturer of compound semiconductor substrates, including Gallium Arsenide and Indium Phosphide, which are vital components for high-speed communications and optical sensors. The company has a leading position in niche material science, benefiting from the global shift toward 5G infrastructure and advanced fiber optics. While AXT offers strong growth potential, it faces notable risks regarding customer concentration and manufacturing concentration in China, which complicates its operational risk profile. The stock is best suited for growth-oriented investors comfortable with semiconductor industry cycles. Prospective investors should closely monitor shifts in trade policy and the company's progress in diversifying its production base to mitigate geopolitical vulnerabilities.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company offers growth potential tied to 5G and photonics but is subject to significant cyclicality. |
| Momentum investor | Strong fit while signal remains positive | Stock volatility allows for momentum opportunities during industry upturns. |
| Value investor | Mixed fit | Valuation is often tied to cyclical semiconductor sentiment rather than steady fundamental growth. |
| Dividend investor | Weak fit | AXT does not provide dividend income to shareholders. |
| Low-risk investor | Weak fit | High price volatility and manufacturing risks make this unsuitable for low-risk portfolios. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock is highly sensitive to broader semiconductor industry cycles. |
| Valuation risk | Medium | Market sentiment often causes wide swings in the company's price-to-earnings multiples. |
| Competition risk (Semiconductor Materials) | High | Aggressive global competition can exert pressure on product pricing and margins. |
| Business quality | Medium | The company has established a firm technological niche but operates in a capital-intensive, cyclical field. |
| Dividend income | Low / none | There is no dividend income component for investors. |
| Execution risk | Medium | Maintaining complex crystal growth operations and managing international supply chains presents significant operational hurdles. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Extreme Price Shocks
The stock has experienced exceptionally large and disruptive price movements during the period.
Analysis of Past Performance
Type Stock | Historic Profit 1198.79% | Avg. Invested days 40 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 09/14/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.25B USD | Price to earnings Ratio 2159 | 1Y Target Price 91.6 |
Price to earnings Ratio 2159 | 1Y Target Price 91.6 | ||
Volume (30-day avg) 10.8M shares | Beta 1.92 | 52 Weeks Range 3.85 - 143.16 | Updated Date 09/13/2026 |
52 Weeks Range 3.85 - 143.16 | Updated Date 09/13/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.03 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Substrate Sales | Manufacturing and selling GaAs, InP, and Ge wafers to device manufacturers. | AXT sells the specialized 'foundational' wafers that act as the base for advanced electronics. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE 2159 | Forward PE 27.32 | Enterprise Value 3.92B | Price to Sales(TTM) 33.84 |
Enterprise Value 3.92B | Price to Sales(TTM) 33.84 | ||
Enterprise Value to Revenue 31.22 | Enterprise Value to EBITDA 258.89 | Shares Outstanding 65.57M | Shares Floating 61.61M |
Shares Outstanding 65.57M | Shares Floating 61.61M | ||
Percent Insiders 3.98 | Percent Institutions 73.44 |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About AXT Inc
Exchange NASDAQ | Headquarters Fremont, CA, United States | ||
IPO Launch date 1998-05-21 | Co-Founder, CEO & Chairman Dr. Morris S. Young Ph.D. | ||
Sector Technology | Industry Semiconductor Equipment & Materials | Full time employees 1541 | Website https://www.axt.com |
Full time employees 1541 | Website https://www.axt.com | ||
AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company provides indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging. It also offers semi-insulating gallium arsenide (GaAs) substrates for use in Wi-Fi and IoT devices, transistors, direct broadcast television, power amplifiers, satellite communications, and solar cells; and semi-conducting GaAs substrates that are used in LEDs, screen displays using micro-LEDs, printer head lasers and LEDs, 3-D sensing using VCSELs, data center communication using VCSELs, sensors for industrial robotics/near-infrared sensors, laser machining, cutting and drilling, optical couplers, solar cells, night vision goggles, lidar for robotics and autonomous vehicles, and other lasers. In addition, the company provides germanium substrates for use in multi-junction solar cells for satellites, optical sensors and detectors, terrestrial concentrated photo voltaic cells, infrared detectors, and carrier wafer for LED. Further, it offers 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, pyrolytic boron nitride (pBN) crucibles, and pBN insulating parts. It sells its products through direct salesforce in the United States, China, and Europe, as well as through independent sales representatives and distributors in Japan, Taiwan, Korea, and internationally. The company was formerly known as American Xtal Technology, Inc. and changed its name to AXT, Inc. in July 2000. AXT, Inc. was incorporated in 1986 and is headquartered in Fremont, California.
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