AXT (NASDAQ:AXTI) Director Sells $469,315.88 in Stock

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 12,452 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $37.69, for a total transaction of $469,315.88. Following the transaction, the director owned 152,612 shares of the company’s stock, valued at $5,751,946.28. This trade represents a 7.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, March 6th, Jesse Chen sold 2,000 shares of AXT stock. The shares were sold at an average price of $36.63, for a total transaction of $73,260.00.
• On Thursday, March 5th, Jesse Chen sold 11,147 shares of AXT stock. The shares were sold at an average price of $38.26, for a total transaction of $426,484.22.
• On Wednesday, March 4th, Jesse Chen sold 8,800 shares of AXT stock. The stock was sold at an average price of $38.83, for a total transaction of $341,704.00.
• On Tuesday, March 3rd, Jesse Chen sold 11,007 shares of AXT stock. The shares were sold at an average price of $40.49, for a total value of $445,673.43.
• 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 value of $516,078.80.

AXT Stock Performance

Shares of NASDAQ:AXTI traded up $5.74 on Tuesday, hitting $44.30. 14,416,244 shares of the company’s stock were exchanged, compared to its average volume of 8,324,655. AXT Inc has a 1-year low of $1.13 and a 1-year high of $47.03. The company has a market capitalization of $2.45 billion, a PE ratio of -92.29 and a beta of 1.74. The firm’s 50-day moving average is $24.94 and its 200 day moving average is $13.81.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC lowered shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Northland Securities set a $20.00 target price on AXT in a research report on Monday, December 22nd. Wedbush raised their price target on AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of AXT in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.80.

Institutional Investors Weigh In On AXT

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in AXT by 12.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 2,540 shares during the period. Jefferies Financial Group Inc. lifted its holdings in shares of AXT by 30.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 14,967 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 3,467 shares during the period. State of Wyoming purchased a new position in AXT in the 4th quarter valued at $69,000. Kestra Advisory Services LLC purchased a new position in AXT in the 4th quarter valued at $98,000. Finally, Algert Global LLC increased its stake in AXT by 31.9% in the 3rd quarter. Algert Global LLC now owns 28,800 shares of the semiconductor company’s stock valued at $129,000 after buying an additional 6,970 shares during the period. Institutional investors and hedge funds 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.