BUZZ-AXT falls after lowering Q4 revenue forecast on China export permit delays
Reuters
Jan 09
BUZZ-AXT falls after lowering Q4 revenue forecast on China export permit delays
Updates
** Shares of semiconductor parts maker AXT IncAXTI.O down ~14% at $22.20 premarket
** Co cuts Q4 revenue forecast citing fewer China export permits for indium phosphide (InP)
** Sees Q4 2025 revenue at $22.5 million to $23.5 million vs. prior guidance of $27 million to $30 million
** CEO Morris Young says AXTI is working with China's Ministry of Commerce and hopes for additional permits in Q1 2026
** B. Riley downgrades stock to "neutral" from "buy"; raises PT to $18 from $9
** Brokerage expects InP demand to remain strong for the foreseeable future, since it is a key building block for transceiver lasers
** AXTI rose 57.9% in 2025
(Reporting by Tharuniyaa Lakshmi and Koyena Das in Bengaluru)
((tharuniyaa@thomsonreuters.com))
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