AXT (NASDAQ:AXTI) Shares Down 5.2% – Should You Sell?

AXT Inc (NASDAQ:AXTI) shares fell 5.2% during mid-day trading on Monday . The company traded as low as $73.00 and last traded at $78.3080. 3,176,388 shares changed hands during trading, a decline of 68% from the average session volume of 9,998,763 shares. The stock had previously closed at $82.56.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXTI. Craig Hallum reiterated a “buy” rating on shares of AXT in a research report on Friday, January 9th. Northland Securities set a $20.00 price target on shares of AXT in a research note on Monday, December 22nd. Wedbush lifted their price objective on shares of AXT from $8.50 to $28.00 and gave the company an “outperform” 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, UBS Group set a $35.00 price target on AXT in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AXT currently has a consensus rating of “Hold” and a consensus price target of $22.80.

AXT Stock Down 9.2%

The stock’s 50 day moving average is $46.41 and its two-hundred day moving average is $24.68. The company has a market capitalization of $4.17 billion, a PE ratio of -156.07 and a beta of 1.51.

AXT (NASDAQ:AXTI) last posted its earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). AXT had a negative net margin of 24.07% and a negative return on equity of 9.50%. The business had revenue of $23.04 million for the quarter, compared to analysts’ expectations of $24.24 million. On average, sell-side analysts predict that AXT Inc will post -0.12 EPS for the current fiscal year.

Insider Activity at AXT

In related news, Director Jesse Chen sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $47.13, for a total value of $706,950.00. Following the completion of the transaction, the director owned 123,612 shares of the company’s stock, valued at $5,825,833.56. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David C. Chang sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.53, for a total value of $770,600.00. Following the sale, the director owned 112,744 shares of the company’s stock, valued at approximately $4,344,026.32. This represents a 15.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 502,278 shares of company stock valued at $21,196,754 over the last ninety days. 5.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On AXT

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in AXT in the first quarter valued at about $108,000. Assenagon Asset Management S.A. lifted 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 valued at $103,000 after buying an additional 2,540 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in shares of AXT by 30.1% in the 4th 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 in the last quarter. State of Wyoming purchased a new position in shares of AXT in the 4th quarter worth approximately $69,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of AXT in the 4th quarter worth approximately $98,000. 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.