AXT (NASDAQ:AXTI) CEO Morris Young Sells 37,905 Shares

AXT Inc (NASDAQ:AXTI) CEO Morris Young sold 37,905 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $51.13, for a total value of $1,938,082.65. Following the completion of the sale, the chief executive officer directly owned 2,275,328 shares in the company, valued at approximately $116,337,520.64. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AXT Stock Performance

NASDAQ AXTI opened at $48.39 on Tuesday. The stock has a 50-day simple moving average of $28.01 and a 200 day simple moving average of $15.37. AXT Inc has a twelve month low of $1.13 and a twelve month high of $52.70. The stock has a market capitalization of $2.67 billion, a PE ratio of -100.81 and a beta of 1.74.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). AXT had a negative return on equity of 10.59% and a negative net margin of 24.07%.The business had revenue of $23.04 million during the quarter, compared to the consensus estimate of $24.24 million. As a group, equities research analysts forecast that AXT Inc will post -0.12 EPS for the current fiscal year.

Institutional Trading of AXT

Several large investors have recently added to or reduced their stakes in AXTI. State of Wyoming acquired a new stake in shares of AXT during the fourth quarter worth approximately $69,000. Kestra Advisory Services LLC bought a new position in shares of AXT in the fourth quarter valued at approximately $98,000. Oasis Management Co Ltd. acquired a new position in shares of AXT in the 4th quarter worth approximately $164,000. Osaic Holdings Inc. grew its position in AXT by 1,071.5% during the 4th quarter. Osaic Holdings Inc. now owns 11,012 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 10,072 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in AXT during the 3rd quarter worth approximately $52,000. 49.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AXTI. B. Riley Financial upped their price objective on shares of AXT to $21.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Craig Hallum reaffirmed a “buy” rating on shares of AXT in a report on Friday, January 9th. Wedbush raised their price objective on AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. UBS Group set a $35.00 price objective on AXT in a report on Tuesday, February 17th. Finally, Northland Securities set a $20.00 price objective on AXT in a research report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.80.

About AXT

AXT, Inc (NASDAQ: AXTI) is a global supplier of compound and single-element semiconductor substrates, offering a range of materials critical for high-performance electronic and optoelectronic devices. Founded in 1986 and headquartered in Fremont, California, AXT specializes in the development, manufacture and distribution of wafers composed of gallium arsenide (GaAs), indium phosphide (InP), gallium nitride (GaN) and other compound semiconductor materials. These substrates serve as the foundational platforms for devices used in data communications, wireless infrastructure, advanced computing, consumer electronics and photovoltaic applications.

AXT’s product portfolio encompasses a variety of wafer sizes, dopant concentrations and crystal orientations, tailored to meet the precise specifications of its customers.