AXT (NASDAQ:AXTI) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of AXT (NASDAQ:AXTI – Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.

Several other equities analysts have also recently issued reports on AXTI. B. Riley Financial cut AXT from a “buy” rating to a “neutral” rating and boosted their price target for the company from $9.00 to $18.00 in a research report on Friday, January 9th. Wedbush set a $7.00 target price on AXT and gave the company an “outperform” rating in a report on Wednesday, October 29th. Craig Hallum reaffirmed a “buy” rating on shares of AXT in a report on Friday, January 9th. Northland Securities set a $20.00 price objective on shares of AXT in a research report on Monday, December 22nd. Finally, Needham & Company LLC downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AXT currently has an average rating of “Hold” and an average price target of $13.75.

View Our Latest Research Report on AXT

AXT Price Performance

AXTI stock opened at $24.24 on Friday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -46.62 and a beta of 1.96. The company has a fifty day moving average price of $19.01 and a 200 day moving average price of $10.40. AXT has a 12 month low of $1.13 and a 12 month high of $28.65.

Insider Buying and Selling at AXT

In related news, Director David C. Chang sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total transaction of $371,000.00. Following the sale, the director owned 132,744 shares of the company’s stock, valued at approximately $1,969,920.96. The trade was a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Morris S. Young sold 35,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $12.05, for a total transaction of $421,750.00. Following the transaction, the chief executive officer owned 2,495,564 shares in the company, valued at $30,071,546.20. The trade was a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,000 shares of company stock worth $1,369,000 over the last 90 days. Insiders own 8.80% of the company’s stock.

Hedge Funds Weigh In On AXT

Several hedge funds have recently bought and sold shares of AXTI. State of Wyoming purchased a new stake in AXT during the fourth quarter worth $69,000. Kestra Advisory Services LLC purchased a new position in shares of AXT in the fourth quarter valued at $98,000. Oasis Management Co Ltd. acquired a new position in shares of AXT during the 4th quarter worth $164,000. Jefferies Financial Group Inc. purchased a new stake in shares of AXT in the 3rd quarter worth about $52,000. Finally, Allworth Financial LP grew its stake in AXT by 3,764.7% in the 4th quarter. Allworth Financial LP now owns 11,594 shares of the semiconductor company’s stock valued at $190,000 after acquiring an additional 11,294 shares during the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

About AXT

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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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