AXTI up 23%. Trading higher on positive earnings news:

Shares of Axt Inc (AXTI) are trading 23% higher at a price of $8.64 at the time of this writing. The company reported positive earnings news:

Revenue for the second quarter of 2022 was $39.5 million, compared with $39.7 million for the first quarter of 2022 and $33.7 million for the second quarter of 2021. GAAP gross margin was 39.1 percent, while non-GAAP gross margin was 39.4 percent; both representing increases from 33.6 percent and 33.8 in Q1 respectively.

Axt Inc has been trading between a 52-week high of $10.52 and a 52-week low of $4.97. The stock has a market cap of $371 Million.

AXT is a material science company that develops and manufactures high-performance compound and single element semiconductor substrate wafers comprising indium phosphide (InP), gallium arsenide (GaAs) and germanium (Ge). The company's substrate wafers are used when a typical silicon substrate wafer cannot meet the performance requirements of a semiconductor or optoelectronic device. End markets include 5G infrastructure, data center connectivity (silicon photonics), passive optical networks, LED lighting, lasers, sensors, power amplifiers for wireless devices and satellite solar cells.