AXT Inc. (AXTI) shares surged in pre-market trading following a positive report from Wedbush Securities. The firm maintained its Outperform rating on the semiconductor materials manufacturer.
Wedbush analysts report that demand is tracking better than market expectations. Improving Chinese export license grants are resolving the company's primary operational bottleneck.
This regulatory shift allows AXT to begin fulfilling an order backlog exceeding $100 million. The outlook also highlights strong sales from a key customer and new supply agreements.