On July 24, AXT Inc fell 8.18% in regular trading, trading at $49.09/share, with turnover of $46.47 million. The decline came amid broad semiconductor equipment sector weakness and profit-taking ahead of the company's upcoming earnings release.
The semiconductor equipment sector experienced systemic selling pressure, with Applied Materials down 2.48%, Lam Research down 2.35%, ASML down 1.98%, and KLA-Tencor down 1.94%, dragging down individual names across the group. AXT Inc had previously surged sharply, gaining 9.05% on July 20 and 9.42% on July 21, driven by tightening indium phosphide supply-demand dynamics and new long-term supply contracts. The rapid prior appreciation created conditions for concentrated profit-taking.
The company is scheduled to report Q2 earnings on July 30 after market close, with consensus estimates calling for revenue of approximately $34.09 million, representing 72.36% year-over-year growth, and adjusted EPS of $0.07. The approaching earnings window combined with sector-wide rotation accelerated the unwinding of recent gains.
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