U.S. Markets closed

Why AXT Stock Jumped on Friday

·2 min read
Why AXT Stock Jumped on Friday
  • Oops!
    Something went wrong.
    Please try again later.

The manufacturer of compound semiconductor substrates posted an imressive fourth-quarter update, which featured rapid revenue growth and net income that more than doubled compared to the year-ago period. AXT's revenue in Q4 rose 47% year over year to $27 million. "2020 was a year of solid improvement for AXT, capped off by strong indium phosphide growth, particularly in 5G, in Q4, which is typically a seasonally down quarter," said AXT CEO Morris Young.