The Manufacturers Life Insurance Company Purchases Shares of 21,456 AXT Inc $AXTI

The Manufacturers Life Insurance Company purchased a new position in AXT Inc (NASDAQ:AXTI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,456 shares of the semiconductor company’s stock, valued at approximately $1,547,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXTI. CloudAlpha Capital Management Limited Hong Kong bought a new stake in AXT during the fourth quarter valued at about $22,738,000. California State Teachers Retirement System purchased a new stake in shares of AXT during the first quarter worth about $3,670,000. Bank of America Corp DE grew its position in shares of AXT by 112.0% during the first quarter. Bank of America Corp DE now owns 776,300 shares of the semiconductor company’s stock worth $44,234,000 after purchasing an additional 410,181 shares in the last quarter. Janus Henderson Group PLC purchased a new position in AXT in the 1st quarter worth approximately $1,395,000. Finally, Allworth Financial LP lifted its holdings in AXT by 3,764.7% in the 4th quarter. Allworth Financial LP now owns 11,594 shares of the semiconductor company’s stock worth $190,000 after purchasing an additional 11,294 shares in the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AXTI shares. Weiss Ratings raised shares of AXT from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. Needham & Company LLC raised shares of AXT from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Friday, July 31st. Northland Securities set a $125.00 target price on AXT in a research report on Wednesday, June 3rd. Zacks Research raised AXT from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, UBS Group set a $90.00 price objective on shares of AXT in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AXT currently has an average rating of “Moderate Buy” and an average price target of $77.00.

Insider Buying and Selling

In other AXT news, Director Jesse Chen sold 13,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $95.77, for a total transaction of $1,245,010.00. Following the completion of the sale, the director owned 56,447 shares in the company, valued at $5,405,929.19. This represents a 18.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Chang sold 8,333 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $111.17, for a total value of $926,379.61. Following the sale, the director directly owned 65,165 shares in the company, valued at $7,244,393.05. This trade represents a 11.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 50,505 shares of company stock valued at $4,972,866 over the last 90 days. Corporate insiders own 5.97% of the company’s stock.

AXT Price Performance

Shares of AXT stock opened at $56.20 on Friday. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 2,810.00 and a beta of 1.92. The firm’s 50-day moving average is $62.81 and its two-hundred day moving average is $70.41. AXT Inc has a 1 year low of $2.91 and a 1 year high of $143.16.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. AXT had a net margin of 3.23% and a return on equity of 0.96%. The business had revenue of $47.59 million during the quarter, compared to analyst estimates of $34.08 million. AXT has set its Q3 2026 guidance at 0.300-0.320 EPS. On average, equities analysts expect that AXT Inc will post 0.8 earnings per share for the current year.

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.