AXT Inc $AXTI Shares Sold by Park Edge Advisors LLC

Park Edge Advisors LLC trimmed its stake in AXT Inc (NASDAQ:AXTI) by 21.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,800 shares of the semiconductor company’s stock after selling 13,700 shares during the quarter. Park Edge Advisors LLC’s holdings in AXT were worth $798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings 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 purchasing an additional 2,540 shares during the last quarter. Algert Global LLC raised its holdings in AXT by 31.9% during the 3rd quarter. Algert Global LLC now owns 28,800 shares of the semiconductor company’s stock worth $129,000 after buying an additional 6,970 shares during the period. Acadian Asset Management LLC raised its holdings in AXT by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after buying an additional 8,039 shares during the period. Jefferies Financial Group Inc. purchased a new stake in AXT during the third quarter valued at about $52,000. Finally, XTX Topco Ltd purchased a new stake in AXT during the second quarter valued at about $42,000. 49.52% of the stock is owned by institutional investors and hedge funds.

AXT Price Performance

NASDAQ:AXTI opened at $52.84 on Friday. The stock has a market cap of $2.94 billion, a PE ratio of -110.08 and a beta of 1.51. AXT Inc has a fifty-two week low of $1.13 and a fifty-two week high of $71.49. The stock’s 50-day moving average is $36.94 and its two-hundred day moving average is $20.01.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company 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 9.50% and a negative net margin of 24.07%. On average, equities research analysts anticipate that AXT Inc will post -0.12 earnings per share for the current year.

Insider Buying and Selling at AXT

In other AXT news, Director David C. Chang sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $38.53, for a total value of $770,600.00. Following the completion of the sale, the director owned 112,744 shares in the company, valued at $4,344,026.32. This represents a 15.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jesse Chen sold 15,000 shares of AXT stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $47.13, for a total transaction of $706,950.00. Following the sale, the director directly owned 123,612 shares of the company’s stock, valued at $5,825,833.56. This trade represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 502,278 shares of company stock worth $21,196,754. 8.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AXTI has been the topic of several analyst reports. UBS Group set a $35.00 target price on shares of AXT in a research report on Tuesday, February 17th. Wall Street Zen upgraded shares of AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Northland Securities set a $20.00 price objective on shares of AXT in a research report on Monday, December 22nd. B. Riley Financial boosted their target price on shares of AXT to $21.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Needham & Company LLC lowered AXT from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.80.

AXT 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.