AXT Shares Fall on Lowered Sales Outlook Due to China Trade Issues

Dow Jones

Jan 09

By Katherine Hamilton

AXT shares dropped after the company cut its revenue outlook, citing China's reduction of export control permits.

The stock shed 18.7% to $21.00 in after-hours trading Thursday. Through the close, shares were up nearly fivefold over the past three months.

The Fremont, Calif., semiconductor maker said it expects fourth-quarter sales to be $22.5 million to $23.5 million. That is a decline from the $27 million to $30 million estimate management shared during a call in November.

The lower guidance is primarily due to fewer-than-expected export control permits for indium phosphide being issued from China's Ministry of Commerce, AXT said.

Chief Executive Morris Young said he was disappointed to not be able to ship enough of the material to fulfill more customer orders in December.

The company is working with the Ministry of Commerce and is hopeful it can receive additional permits in the fiscal first quarter, Young said.

Due to artificial intelligence-related demand, AXT is on target to more than double its indium phosphide capacity in the second half of the year, he added.

The company is set to report fourth-quarter financial results Feb. 19.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 08, 2026 18:49 ET (23:49 GMT)

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Through the close, shares were up nearly fivefold over the past three months. \n</p>\n<p>\n  The Fremont, Calif., semiconductor maker said it expects fourth-quarter sales to be $22.5 million to $23.5 million. 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Through the close, shares were up nearly fivefold over the past three months.The Fremont, Calif., semiconductor maker said it expects fourth-quarter sales to be $22.5 million to $23.5 million. 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Through the close, shares were up nearly fivefold over the past three months. \n\n\n  The Fremont, Calif., semiconductor maker said it expects fourth-quarter sales to be $22.5 million to $23.5 million. That is a decline from the $27 million to $30 million estimate management shared during a call in November. \n\n\n  The lower guidance is primarily due to fewer-than-expected export control permits for indium phosphide being issued from China's Ministry of Commerce, AXT said. \n\n\n  Chief Executive Morris Young said he was disappointed to not be able to ship enough of the material to fulfill more customer orders in December. \n\n\n  The company is working with the Ministry of Commerce and is hopeful it can receive additional permits in the fiscal first quarter, Young said. \n\n\n  Due to artificial intelligence-related demand, AXT is on target to more than double its indium phosphide capacity in the second half of the year, he added. \n\n\n  The company is set to report fourth-quarter financial results Feb. 19. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 08, 2026 18:49 ET (23:49 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}