AXT (NASDAQ:AXTI) Director Jesse Chen Sells 11,007 Shares

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 11,007 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.49, for a total value of $445,673.43. Following the completion of the sale, the director directly owned 187,011 shares of the company’s stock, valued at approximately $7,572,075.39. This represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Jesse Chen also recently made the following trade(s):

• On Monday, March 2nd, Jesse Chen sold 11,320 shares of AXT stock. The stock was sold at an average price of $45.59, for a total transaction of $516,078.80.

AXT Trading Down 9.8%

AXT stock traded down $4.56 during mid-day trading on Tuesday, hitting $41.76. The company’s stock had a trading volume of 13,391,644 shares, compared to its average volume of 7,416,519. The firm has a market capitalization of $2.31 billion, a PE ratio of -87.00 and a beta of 1.75. AXT Inc has a 1 year low of $1.13 and a 1 year high of $47.03. The stock’s fifty day moving average is $23.16 and its two-hundred day moving average is $12.83.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on AXTI. Northland Securities set a $20.00 price objective on shares of AXT in a research report on Monday, December 22nd. Wall Street Zen raised AXT from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. UBS Group set a $35.00 target price on AXT in a research report on Tuesday, February 17th. Wedbush increased their price target on shares of AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Needham & Company LLC lowered shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.80.

Hedge Funds Weigh In On AXT

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in AXT in the fourth quarter valued at $2,939,000. XTX Topco Ltd increased its holdings in shares of AXT by 173.7% in the 4th quarter. XTX Topco Ltd now owns 35,201 shares of the semiconductor company’s stock valued at $576,000 after acquiring an additional 22,338 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in shares of AXT during the 4th quarter worth about $228,000. Tudor Investment Corp ET AL acquired a new stake in shares of AXT during the 4th quarter worth about $278,000. Finally, Millennium Management LLC lifted its stake in AXT by 577.2% during the fourth quarter. Millennium Management LLC now owns 205,503 shares of the semiconductor company’s stock worth $3,360,000 after purchasing an additional 175,158 shares during the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

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.