Zacks Investment Research named AXT Inc. its Bull of the Day following the company's record second-quarter revenue. The report also cited a significant earnings per share (EPS) beat in late July.
Analysts substantially raised top and bottom-line estimates for the semiconductor substrate developer. Consensus EPS estimates for 2026 increased by more than 200%.
The company is experiencing high demand driven by the buildout of AI infrastructure. Needham analysts identified AXT Inc. as a key beneficiary of the co-packaged optics (CPO) trend. Needham reiterated a $90 price target for the stock.