AXT (NASDAQ:AXTI) Reaches New 1-Year High – What’s Next?

AXT Inc (NASDAQ:AXTI) shares hit a new 52-week high on Monday . The company traded as high as $63.95 and last traded at $63.2530, with a volume of 5744080 shares trading hands. The stock had previously closed at $54.24.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AXTI. Needham & Company LLC downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wall Street Zen raised shares of AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Craig Hallum restated a “buy” rating on shares of AXT in a research report on Friday, January 9th. Wedbush boosted their target price on shares of AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, B. Riley Financial boosted their price objective on AXT to $21.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.80.

AXT Stock Performance

The firm’s 50 day moving average is $30.26 and its two-hundred day moving average is $16.73. The stock has a market capitalization of $3.45 billion, a PE ratio of -129.16 and a beta of 1.74.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data 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 firm had revenue of $23.04 million during the quarter, compared to analysts’ expectations of $24.24 million. AXT had a negative net margin of 24.07% and a negative return on equity of 9.50%. On average, analysts anticipate that AXT Inc will post -0.12 EPS for the current year.

Insider Buying and Selling at AXT

In other news, CEO Morris S. Young sold 37,905 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $51.13, for a total value of $1,938,082.65. Following the transaction, the chief executive officer directly owned 2,275,328 shares in the company, valued at approximately $116,337,520.64. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David C. Chang sold 20,000 shares of AXT stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $46.00, for a total value of $920,000.00. Following the sale, the director directly owned 72,744 shares in the company, valued at approximately $3,346,224. This trade represents a 21.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 502,278 shares of company stock valued at $21,196,754. Company insiders own 8.80% of the company’s stock.

Institutional Trading of AXT

Several institutional investors have recently made changes to their positions in AXTI. State of Wyoming acquired a new stake in shares of AXT in the 4th quarter valued at $69,000. Kestra Advisory Services LLC bought a new position in shares of AXT during the 4th quarter worth approximately $98,000. Oasis Management Co Ltd. acquired a new stake in AXT during the 4th quarter valued at $164,000. Osaic Holdings Inc. grew its stake in shares of AXT by 1,071.5% during the fourth quarter. Osaic Holdings Inc. now owns 11,012 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 10,072 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in AXT during the 3rd quarter worth about $52,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

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.