AXT (NASDAQ:AXTI) Shares Gap Up – Should You Buy?

AXT Inc (NASDAQ:AXTI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $24.35, but opened at $25.76. AXT shares last traded at $25.7980, with a volume of 3,433,485 shares changing hands.

Analyst Upgrades and Downgrades

AXTI has been the subject of several recent analyst reports. Craig Hallum reissued a “buy” rating on shares of AXT in a research note on Friday, January 9th. Northland Securities set a $20.00 price objective on shares of AXT in a report on Monday, December 22nd. B. Riley Financial cut shares of AXT from a “buy” rating to a “neutral” rating and raised their target price for the company from $9.00 to $18.00 in a research note on Friday, January 9th. Wall Street Zen downgraded shares of AXT from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, Needham & Company LLC cut shares of AXT from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.75.

AXT Stock Performance

The company’s 50 day moving average price is $17.97 and its 200-day moving average price is $9.76. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -50.90 and a beta of 1.96.

Insider Buying and Selling at AXT

In other AXT news, CEO Morris S. Young sold 35,000 shares of AXT stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $12.05, for a total transaction of $421,750.00. Following the transaction, the chief executive officer directly owned 2,495,564 shares in the company, valued at approximately $30,071,546.20. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David C. Chang sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total transaction of $371,000.00. Following the sale, the director directly owned 132,744 shares in the company, valued at approximately $1,969,920.96. This trade represents a 15.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 143,130 shares of company stock valued at $1,713,221. 8.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AXT

Several institutional investors and hedge funds have recently bought and sold shares of AXTI. State of Wyoming purchased a new stake in shares of AXT in the fourth quarter worth approximately $69,000. Goldman Sachs Group Inc. lifted its position in AXT by 216.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 269,411 shares of the semiconductor company’s stock worth $4,405,000 after buying an additional 184,309 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of AXT by 10.0% during the 4th quarter. Geode Capital Management LLC now owns 492,330 shares of the semiconductor company’s stock valued at $8,054,000 after buying an additional 44,632 shares during the period. Jefferies Financial Group Inc. boosted its stake in shares of AXT by 30.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 14,967 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 3,467 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in shares of AXT during the 4th quarter valued at $1,014,000. 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.