AXT (NASDAQ:AXTI) Director Sells $73,260.00 in Stock

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 2,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $36.63, for a total value of $73,260.00. Following the completion of the transaction, the director owned 165,064 shares of the company’s stock, valued at $6,046,294.32. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, March 9th, Jesse Chen sold 12,452 shares of AXT stock. The stock was sold at an average price of $37.69, for a total value of $469,315.88.
• 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 value 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 stock was sold at an average price of $40.49, for a total transaction of $445,673.43.
• On Monday, March 2nd, Jesse Chen sold 11,320 shares of AXT stock. The shares were sold at an average price of $45.59, for a total transaction of $516,078.80.

AXT Price Performance

AXTI stock traded up $5.74 on Tuesday, hitting $44.30. 14,416,244 shares of the company were exchanged, compared to its average volume of 8,324,655. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -92.29 and a beta of 1.74. AXT Inc has a twelve month low of $1.13 and a twelve month high of $47.03. The business’s fifty day moving average is $24.94 and its two-hundred day moving average is $13.81.

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

Institutional Trading of AXT

A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of 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 period. Creative Planning acquired a new position in AXT in the 2nd quarter worth $86,000. White Pine Capital LLC lifted its holdings in AXT by 2.8% in the 2nd quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock worth $1,798,000 after buying an additional 23,467 shares in the last quarter. XTX Topco Ltd purchased a new position in AXT in the 2nd quarter valued at about $42,000. Finally, Assenagon Asset Management S.A. increased 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 acquiring an additional 2,540 shares during the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AXTI. Wedbush upped 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. Wall Street Zen upgraded AXT from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. B. Riley Financial raised their price target on shares of AXT to $21.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Needham & Company LLC downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Northland Securities set a $20.00 price objective on shares of AXT in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.80.

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.