AXT (NASDAQ:AXTI) Director Jesse Chen Sells 8,083 Shares

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 8,083 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $50.25, for a total value of $406,170.75. Following the completion of the sale, the director directly owned 109,526 shares in the company, valued at $5,503,681.50. This trade represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, March 12th, Jesse Chen sold 6,003 shares of AXT stock. The shares were sold at an average price of $48.95, for a total value of $293,846.85.
• On Wednesday, March 11th, Jesse Chen sold 15,000 shares of AXT stock. The stock was sold at an average price of $47.13, for a total value of $706,950.00.
• On Tuesday, March 10th, Jesse Chen sold 14,000 shares of AXT stock. The stock was sold at an average price of $46.15, for a total value of $646,100.00.
• 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 transaction of $469,315.88.
• On Friday, March 6th, Jesse Chen sold 2,000 shares of AXT stock. The shares were sold at an average price of $36.63, for a total transaction of $73,260.00.
• 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 transaction 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 stock was sold at an average price of $45.59, for a total transaction of $516,078.80.

AXT Stock Performance

Shares of NASDAQ:AXTI traded down $0.47 during trading on Monday, reaching $48.39. 11,052,552 shares of the stock traded hands, compared to its average volume of 8,581,526. The stock has a market cap of $2.67 billion, a P/E ratio of -100.81 and a beta of 1.74. The stock has a 50-day moving average of $27.38 and a two-hundred day moving average of $15.05. AXT Inc has a 52-week low of $1.13 and a 52-week high of $52.70.

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

Institutional Investors Weigh In On AXT

A number of hedge funds have recently added to or reduced their stakes in AXTI. XTX Topco Ltd bought a new position in shares of AXT during the 2nd quarter valued at $42,000. Jefferies Financial Group Inc. purchased a new position in shares of AXT in the 3rd quarter worth $52,000. State of Wyoming bought a new stake in shares of AXT in the fourth quarter worth $69,000. Creative Planning purchased a new stake in AXT during the second quarter valued at $86,000. Finally, Kestra Advisory Services LLC purchased a new stake in AXT during the fourth quarter valued at $98,000. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AXTI. Wedbush boosted 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. Northland Securities set a $20.00 price objective on AXT in a research report on Monday, December 22nd. Wall Street Zen upgraded AXT from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Needham & Company LLC lowered AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, UBS Group set a $35.00 target price on shares of AXT in a research note on Tuesday, February 17th. Two 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. According to data from MarketBeat.com, AXT presently has an average rating of “Hold” and a consensus price target of $22.80.

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.