AXT Inc. (AXTI) Hits New 24-Year High Ahead of Business Updates

We recently published Small But Savage: 10 Stocks Delivering Outsized Gains. AXT Inc. (NASDAQ:AXTI) is one of the best performers on Tuesday.

AXT saw its share prices jump to a new 24-year high on Tuesday, as investors repositioned portfolios ahead of expected business updates next week.

At intra-day trading, the company soared to a record high of $15.06 before trimming a few cents to end the day just up by 17.70 percent at $14.96 apiece.

In a statement, AXT Inc. (NASDAQ:AXTI) said that it would participate in the Northland Securities Growth Conference on Tuesday, December 16, where investors will be looking out for updates about its business and cues on its growth outlook for this year and the next.

AXT Inc. (NASDAQ:AXTI) 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).

In the third quarter of the year, it narrowed its attributable net loss by 35 percent to $1.9 million from $2.9 million in the same period last year.

Revenues jumped by 18.2 percent to $27.9 million from $23.6 million year-on-year on the back of a strong uptick in indium phosphide demand from data center applications.

Indium phosphide revenues alone soared by more than 250 percent on a quarter-on-quarter basis, reaching a three-year high.

“With strong, ongoing market trends fueling the data center upgrade cycle, we believe we have a tremendous opportunity in 2026 to drive meaningful growth in our business and a return to profitability,” said AXT Inc. (NASDAQ:AXTI) CEO Morris Young.

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