Insider Selling: AXT (NASDAQ:AXTI) Director Sells 11,320 Shares of Stock

by · The Markets Daily

AXT Inc (NASDAQ:AXTI – Get Free Report) Director Jesse Chen sold 11,320 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $45.59, for a total value of $516,078.80. Following the completion of the transaction, the director directly owned 198,018 shares of the company’s stock, valued at approximately $9,027,640.62. This trade represents a 5.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • 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 value of $445,673.43.

AXT Stock Performance

AXTI traded down $4.56 during trading on Tuesday, reaching $41.76. 13,391,644 shares of the company traded hands, compared to its average volume of 7,416,519. The company has a market cap of $2.31 billion, a P/E ratio of -87.00 and a beta of 1.75. AXT Inc has a 12-month low of $1.13 and a 12-month high of $47.03. The firm has a fifty day simple moving average of $23.16 and a 200 day simple moving average of $12.83.

AXT (NASDAQ:AXTI – Get Free Report) last issued its earnings results 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 company had revenue of $23.04 million for the quarter, compared to the consensus estimate of $24.24 million. AXT had a negative return on equity of 10.59% and a negative net margin of 24.07%. As a group, sell-side analysts expect that AXT Inc will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen upgraded AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Northland Securities set a $20.00 price target on AXT in a research report on Monday, December 22nd. Wedbush boosted their price objective on shares of AXT from $8.50 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. UBS Group set a $35.00 target price on shares of AXT in a research note on Tuesday, February 17th. Finally, Needham & Company LLC downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.80.

Get Our Latest Research Report on AXT

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of AXT in the fourth quarter valued at about $2,939,000. XTX Topco Ltd lifted its position in shares of AXT by 173.7% in the 4th quarter. XTX Topco Ltd now owns 35,201 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 22,338 shares during the period. SummitTX Capital L.P. bought a new position in shares of AXT during the fourth quarter valued at approximately $228,000. Tudor Investment Corp ET AL purchased a new position in AXT during the fourth quarter valued at approximately $278,000. Finally, Millennium Management LLC raised its stake in AXT by 577.2% in the fourth quarter. Millennium Management LLC now owns 205,503 shares of the semiconductor company’s stock worth $3,360,000 after buying an additional 175,158 shares in the last quarter. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

About AXT

(Get Free Report)

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.

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