State of Alaska Department of Revenue Buys 10,784 Shares of AXT Inc $AXTI

State of Alaska Department of Revenue bought a new position in shares of AXT Inc (NASDAQ:AXTI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,784 shares of the semiconductor company’s stock, valued at approximately $834,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dupree Financial Group LLC increased its holdings in AXT by 2.9% during the third quarter. Dupree Financial Group LLC now owns 14,349 shares of the semiconductor company’s stock valued at $1,111,000 after buying an additional 400 shares during the period. GAMMA Investing LLC lifted its holdings in AXT by 3,881.2% during the third quarter. GAMMA Investing LLC now owns 1,274 shares of the semiconductor company’s stock worth $99,000 after buying an additional 1,242 shares during the period. NewEdge Advisors LLC lifted its holdings in AXT by 79.0% during the second quarter. NewEdge Advisors LLC now owns 3,158 shares of the semiconductor company’s stock worth $228,000 after buying an additional 1,394 shares during the period. Squarepoint Ops LLC lifted its holdings in AXT by 1,347.0% during the second quarter. Squarepoint Ops LLC now owns 312,999 shares of the semiconductor company’s stock worth $22,561,000 after buying an additional 291,368 shares during the period. Finally, Arizona State Retirement System lifted its holdings in AXT by 10.4% during the second quarter. Arizona State Retirement System now owns 15,928 shares of the semiconductor company’s stock worth $1,148,000 after buying an additional 1,505 shares during the period. 49.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Leonard Leblanc sold 4,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $96.07, for a total transaction of $384,280.00. Following the completion of the sale, the director owned 113,129 shares in the company, valued at approximately $10,868,303.03. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.97% of the company’s stock.

AXT Stock Up 3.8%

Shares of AXT stock opened at $59.28 on Thursday. The company has a market cap of $3.89 billion, a P/E ratio of 2,964.00 and a beta of 1.86. The firm’s 50 day moving average price is $69.20 and its 200-day moving average price is $76.33. AXT Inc has a 52-week low of $4.81 and a 52-week high of $143.16.

AXT (NASDAQ:AXTI) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The company had revenue of $47.59 million during the quarter, compared to analysts’ expectations of $34.08 million. AXT had a net margin of 3.23% and a return on equity of 0.96%. AXT has set its Q3 2026 guidance at 0.300-0.320 EPS. As a group, equities research analysts forecast that AXT Inc will post 0.80 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC raised AXT from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Friday, July 31st. Zacks Research lowered AXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. B. Riley Financial reduced their price target on AXT from $73.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Weiss Ratings upgraded AXT from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Finally, UBS Group set a $90.00 price objective on AXT in a research report on Friday, July 31st. Three investment 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’s stock. According to MarketBeat.com, AXT has a consensus rating of “Hold” and an average target price of $77.00.

AXT Profile

AXT, Inc develops and manufactures compound semiconductor substrates used as the foundation for various high-performance electronic and optoelectronic devices. Its principal products include gallium arsenide (GaAs), indium phosphide (InP), and germanium substrates, along with other specialty materials such as gallium antimonide and indium arsenide.

The company’s substrates are used in applications including wireless communications, fiber-optic and data-center networks, lasers, light-emitting diodes, solar cells, consumer electronics, and aerospace and defense systems.