Insider Selling: AXT (NASDAQ:AXTI) Director Sells 6,003 Shares of Stock

by · The Markets Daily

AXT Inc (NASDAQ:AXTI – Get Free Report) Director Jesse Chen sold 6,003 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $48.95, for a total transaction of $293,846.85. Following the completion of the sale, the director directly owned 117,609 shares in the company, valued at approximately $5,756,960.55. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

  • On Friday, March 13th, Jesse Chen sold 8,083 shares of AXT stock. The stock was 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 shares were 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 transaction 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 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 shares were 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 Down 1.0%

AXTI traded down $0.47 during trading on Monday, reaching $48.39. 11,052,552 shares of the company were exchanged, compared to its average volume of 8,581,526. AXT Inc has a 12-month low of $1.13 and a 12-month high of $52.70. The company’s 50-day moving average is $27.38 and its two-hundred day moving average is $15.05. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -100.81 and a beta of 1.74.

AXT (NASDAQ:AXTI – Get Free Report) last posted 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). AXT had a negative net margin of 24.07% and a negative return on equity of 10.59%. The company had revenue of $23.04 million for the quarter, compared to analysts’ expectations of $24.24 million. Equities analysts forecast that AXT Inc will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

AXTI has been the subject of several recent analyst reports. Wall Street Zen raised shares of AXT from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. UBS Group set a $35.00 price target on shares of AXT in a report on Tuesday, February 17th. Craig Hallum restated a “buy” rating on shares of AXT in a research report on Friday, January 9th. Needham & Company LLC cut shares of AXT from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, B. Riley Financial upped their price target on shares of AXT to $21.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AXT currently has an average rating of “Hold” and a consensus target price of $22.80.

Get Our Latest Research Report on AXTI

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AXTI. XTX Topco Ltd bought a new position in shares of AXT in the second quarter worth approximately $42,000. Jefferies Financial Group Inc. bought a new stake in AXT during the third quarter valued at approximately $52,000. State of Wyoming bought a new stake in AXT during the fourth quarter valued at approximately $69,000. Creative Planning purchased a new position in AXT in the 2nd quarter worth approximately $86,000. Finally, Kestra Advisory Services LLC purchased a new position in AXT in the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Company Profile

(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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