Insider Selling: AXT (NASDAQ:AXTI) Director Sells 12,452 Shares of Stock

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 12,452 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $37.69, for a total transaction of $469,315.88. Following the completion of the transaction, the director directly owned 152,612 shares in the company, valued at $5,751,946.28. This trade represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 shares were 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 stock was 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 transaction of $445,673.43.
• On Monday, March 2nd, Jesse Chen sold 11,320 shares of AXT stock. The stock was sold at an average price of $45.59, for a total transaction of $516,078.80.

AXT Trading Up 14.9%

AXTI stock traded up $5.74 during trading on Tuesday, reaching $44.30. 14,416,244 shares of the stock were exchanged, compared to its average volume of 8,324,655. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -92.29 and a beta of 1.74. The business has a 50 day moving average price of $24.94 and a 200-day moving average price of $13.81. AXT Inc has a 1 year low of $1.13 and a 1 year high of $47.03.

AXT (NASDAQ:AXTI) last announced 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). AXT had a negative return on equity of 10.59% and a negative net margin of 24.07%.The firm had revenue of $23.04 million for the quarter, compared to analyst estimates of $24.24 million. On average, research analysts anticipate that AXT Inc will post -0.12 EPS for the current year.

Hedge Funds Weigh In On AXT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in AXT by 12.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 2,540 shares during the period. Jefferies Financial Group Inc. boosted its stake 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 during the period. State of Wyoming purchased a new position in shares of AXT in the 4th quarter valued at about $69,000. Kestra Advisory Services LLC acquired a new position in shares of AXT during the fourth quarter worth about $98,000. Finally, Algert Global LLC grew its position in shares of AXT by 31.9% during the third 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 in the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AXTI shares. Northland Securities set a $20.00 price objective on shares of AXT in a report on Monday, December 22nd. Needham & Company LLC lowered AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Wall Street Zen upgraded AXT from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Wedbush raised their price target on AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Craig Hallum reiterated a “buy” rating on shares of AXT in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AXT currently has a consensus rating of “Hold” and an average price target of $22.80.

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.