AXT (NASDAQ:AXTI) Director Sells $894,000.00 in Stock

AXT Inc (NASDAQ:AXTI) Director David Chang sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $8.94, for a total value of $894,000.00. Following the completion of the transaction, the director directly owned 207,744 shares in the company, valued at $1,857,231.36. The trade was a 32.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AXT Price Performance

AXTI traded down $0.23 on Thursday, hitting $8.87. The company had a trading volume of 3,912,248 shares, compared to its average volume of 930,544. The stock has a market cap of $409.13 million, a price-to-earnings ratio of -16.13 and a beta of 2.33. The company’s fifty day moving average price is $4.84 and its 200 day moving average price is $2.95. AXT Inc has a 1-year low of $1.13 and a 1-year high of $9.84.

Institutional Trading of AXT

A number of large investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in AXT during the 2nd quarter worth $42,000. Algert Global LLC bought a new stake in shares of AXT in the first quarter worth about $31,000. Assenagon Asset Management S.A. raised its position in shares of AXT by 12.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 2,540 shares during the period. Wesbanco Bank Inc. bought a new position in shares of AXT during the 3rd quarter valued at about $112,000. Finally, Atlas Brown Inc. grew its position in shares of AXT by 100.0% in the 2nd quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 19,575 shares during the period. Institutional investors own 49.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wedbush set a $7.00 price objective on shares of AXT and gave the stock an “outperform” rating in a report on Wednesday, October 29th. B. Riley raised their target price on AXT from $4.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Needham & Company LLC lifted their price objective on AXT from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, October 31st. Northland Securities set a $10.00 target price on shares of AXT in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AXT in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, AXT has a consensus rating of “Moderate Buy” and an average target price of $9.00.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.