AXT (NASDAQ:AXTI) Director Sells $293,846.85 in Stock

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 6,003 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $48.95, for a total transaction of $293,846.85. Following the completion of the transaction, the director owned 117,609 shares in the company, valued at approximately $5,756,960.55. This represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, March 13th, Jesse Chen sold 8,083 shares of AXT stock. The shares were sold at an average price of $50.25, for a total transaction of $406,170.75.
• 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 transaction of $706,950.00.
• On Tuesday, March 10th, Jesse Chen sold 14,000 shares of AXT stock. The shares were 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 shares were sold at an average price of $37.69, for a total value of $469,315.88.
• On Friday, March 6th, Jesse Chen sold 2,000 shares of AXT stock. The stock was sold at an average price of $36.63, for a total value of $73,260.00.
• On Thursday, March 5th, Jesse Chen sold 11,147 shares of AXT stock. The stock was 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 value of $341,704.00.
• On Tuesday, March 3rd, Jesse Chen sold 11,007 shares of AXT stock. The shares were sold at an average price of $40.49, for a total value 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 value of $516,078.80.

AXT Stock Performance

NASDAQ AXTI opened at $48.76 on Thursday. AXT Inc has a one year low of $1.13 and a one year high of $52.70. The stock has a 50-day moving average of $28.99 and a 200 day moving average of $15.89. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -101.58 and a beta of 1.75.

AXT (NASDAQ:AXTI) last posted its earnings results 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 the consensus estimate of $24.24 million. AXT had a negative net margin of 24.07% and a negative return on equity of 10.59%. On average, equities analysts predict that AXT Inc will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Northland Securities set a $20.00 price objective on shares of AXT in a research report on Monday, December 22nd. Wall Street Zen raised shares of AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Craig Hallum reiterated a “buy” rating on shares of AXT in a research note on Friday, January 9th. Wedbush increased their price target on AXT from $8.50 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, UBS Group set a $35.00 price target on AXT in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.80.

Hedge Funds Weigh In On AXT

Several institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in shares of AXT by 12.4% in the third 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. Jefferies Financial Group Inc. increased its holdings in AXT by 30.1% during the fourth 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 last quarter. State of Wyoming purchased a new stake in AXT during the fourth quarter valued at approximately $69,000. Kestra Advisory Services LLC bought a new position in AXT in the fourth quarter worth approximately $98,000. Finally, Algert Global LLC raised its position in AXT by 31.9% in the third quarter. Algert Global LLC now owns 28,800 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 6,970 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.