AXT (NASDAQ:AXTI) Stock Rating Upgraded by Wall Street Zen

AXT (NASDAQ:AXTI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also issued reports on AXTI. Wedbush set a $7.00 target price on shares of AXT and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. B. Riley Financial cut shares of AXT from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $9.00 to $18.00 in a report on Friday, January 9th. Needham & Company LLC downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Northland Securities set a $20.00 target price on shares of AXT in a research report on Monday, December 22nd. Finally, Craig Hallum reaffirmed a “buy” rating on shares of AXT in a report on Friday, January 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AXT presently has an average rating of “Hold” and an average price target of $13.75.

AXT Stock Down 2.2%

Shares of NASDAQ:AXTI opened at $24.24 on Friday. The business’s 50 day moving average is $18.78 and its 200 day moving average is $10.24. AXT has a 12-month low of $1.13 and a 12-month high of $28.65. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -46.62 and a beta of 1.96.

Insider Buying and Selling

In other news, CEO Morris S. Young sold 35,000 shares of the firm’s 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 completion of the sale, the chief executive officer owned 2,495,564 shares in the company, valued at $30,071,546.20. This trade represents a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David C. Chang sold 25,000 shares of the company’s 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 completion of the transaction, the director owned 132,744 shares in the company, valued at approximately $1,969,920.96. The trade was a 15.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,000 shares of company stock valued at $1,369,000 over the last three months. Insiders own 8.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CloudAlpha Capital Management Limited Hong Kong bought a new stake in AXT in the 4th quarter valued at about $22,738,000. Alyeska Investment Group L.P. bought a new position in AXT during the fourth quarter worth about $20,187,000. Jane Street Group LLC increased its stake in shares of AXT by 1,314.6% in the fourth quarter. Jane Street Group LLC now owns 904,599 shares of the semiconductor company’s stock worth $14,790,000 after purchasing an additional 840,650 shares in the last quarter. Maytree Asset Management Ltd bought a new stake in shares of AXT in the fourth quarter valued at approximately $11,156,000. Finally, Assenagon Asset Management S.A. raised its position in shares of AXT by 2,404.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 574,828 shares of the semiconductor company’s stock valued at $9,398,000 after purchasing an additional 551,876 shares during the period. Institutional investors own 49.52% of the company’s stock.

AXT Company Profile

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.