10,784 Shares of AXT Inc $AXTI Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue purchased a new position in shares of AXT Inc (NASDAQ:AXTI) during the third quarter, Holdings Channel.com reports. The fund purchased 10,784 shares of the semiconductor company’s stock, valued at approximately $834,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in AXT in the 2nd quarter worth approximately $365,607,000. Assenagon Asset Management S.A. grew its position in AXT by 161.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,505,354 shares of the semiconductor company’s stock worth $85,775,000 after purchasing an additional 930,526 shares during the last quarter. Bank of America Corp DE grew its position in AXT by 112.0% during the 1st quarter. Bank of America Corp DE now owns 776,300 shares of the semiconductor company’s stock worth $44,234,000 after purchasing an additional 410,181 shares during the last quarter. Ariose Capital Management Ltd purchased a new stake in AXT during the 1st quarter worth approximately $39,061,000. Finally, Wellington Management Group LLP acquired a new position in AXT during the 2nd quarter valued at approximately $25,911,000. Institutional investors and hedge funds own 49.52% of the company’s stock.

Wall Street Analyst Weigh In

AXTI has been the subject of a number of research analyst reports. B. Riley Financial decreased their price target on shares of AXT from $73.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, July 28th. UBS Group set a $90.00 price objective on shares of AXT in a research note on Friday, July 31st. Zacks Research lowered shares of AXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Weiss Ratings raised AXT from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Finally, Needham & Company LLC raised AXT from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AXT presently has an average rating of “Hold” and an average target price of $77.00.

AXT Stock Up 3.8%

Shares of NASDAQ:AXTI opened at $59.28 on Thursday. AXT Inc has a 52-week low of $4.81 and a 52-week high of $143.16. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 2,964.00 and a beta of 1.86. The business has a 50-day moving average price of $69.20 and a 200-day moving average price of $76.33.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, July 30th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $47.59 million during the quarter, compared to the consensus estimate of $34.08 million. AXT had a return on equity of 0.96% and a net margin of 3.23%. AXT has set its Q3 2026 guidance at 0.300-0.320 EPS. As a group, equities analysts anticipate that AXT Inc will post 0.80 EPS for the current fiscal year.

Insiders Place Their Bets

In other AXT news, Director Leonard Leblanc sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $96.07, for a total transaction of $384,280.00. Following the completion of the transaction, the director directly owned 113,129 shares of the company’s stock, valued at approximately $10,868,303.03. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.97% of the company’s stock.

AXT Profile

AXT, Inc develops and manufactures compound semiconductor substrates used as the foundation for various high-performance electronic and optoelectronic devices. Its principal products include gallium arsenide (GaAs), indium phosphide (InP), and germanium substrates, along with other specialty materials such as gallium antimonide and indium arsenide.

The company’s substrates are used in applications including wireless communications, fiber-optic and data-center networks, lasers, light-emitting diodes, solar cells, consumer electronics, and aerospace and defense systems.