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In the latest market close, AXT (AXTI) reached $3.72, with a +0.54% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.74%. Elsewhere, the Dow saw a downswing of 0.01%, while the tech-heavy Nasdaq appreciated by 1.68%.

Shares of the semiconductor materials supplier have depreciated by 21.78% over the course of the past month, underperforming the Computer and Technology sector's gain of 0.95% and the S&P 500's gain of 0.8%.

The investment community will be closely monitoring the performance of AXT in its forthcoming earnings report. The company is scheduled to release its earnings on May 2, 2024. The company's upcoming EPS is projected at -$0.08, signifying a 33.33% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $21 million, up 8.19% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.21 per share and a revenue of $95.01 million, signifying shifts of +38.24% and +25.35%, respectively, from the last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AXT. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. AXT is holding a Zacks Rank of #2 (Buy) right now.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 181, finds itself in the bottom 29% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.