Wesbanco Bank Inc. Makes New $112,000 Investment in AXT Inc $AXTI

Wesbanco Bank Inc. acquired a new position in AXT Inc (NASDAQ:AXTI) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 25,000 shares of the semiconductor company’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in AXT by 12.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after buying an additional 2,540 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of AXT in the second quarter worth $42,000. White Pine Capital LLC raised its holdings in shares of AXT by 2.8% during the second quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock worth $1,798,000 after purchasing an additional 23,467 shares during the last quarter. Creative Planning acquired a new position in AXT during the second quarter valued at $86,000. Finally, Acadian Asset Management LLC boosted its holdings in AXT by 2.8% in the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock valued at $412,000 after purchasing an additional 8,039 shares during the last quarter. Institutional investors and hedge funds own 49.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AXTI shares. Craig Hallum reissued a “buy” rating on shares of AXT in a report on Friday, January 9th. Wall Street Zen lowered AXT from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. B. Riley Financial lowered shares of AXT from a “buy” rating to a “neutral” rating and lifted their target price for the company from $9.00 to $18.00 in a report on Friday, January 9th. Wedbush set a $7.00 price target on shares of AXT and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, Northland Securities set a $20.00 price target on shares of AXT in a research report on Monday, December 22nd. Two research 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, AXT presently has an average rating of “Hold” and a consensus price target of $13.75.

Insider Transactions at AXT

In other AXT news, CEO Morris S. Young sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $12.05, for a total transaction of $421,750.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David C. Chang sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total value of $371,000.00. Following the transaction, the director directly owned 132,744 shares of the company’s stock, valued at $1,969,920.96. The trade was a 15.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 143,130 shares of company stock worth $1,713,221 over the last ninety days. 8.80% of the stock is currently owned by corporate insiders.

AXT Stock Performance

NASDAQ:AXTI opened at $24.79 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of -47.67 and a beta of 1.96. AXT Inc has a fifty-two week low of $1.13 and a fifty-two week high of $28.65. The company has a fifty day moving average of $18.53 and a two-hundred day moving average of $9.98.

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.