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

Shares of AXT Inc (NASDAQ:AXTI) reached a new 52-week high during trading on Monday . The stock traded as high as $27.15 and last traded at $27.5610, with a volume of 1478213 shares trading hands. The stock had previously closed at $24.06.

Analysts Set New Price Targets

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

AXT Stock Performance

The company has a market cap of $1.52 billion, a price-to-earnings ratio of -52.04 and a beta of 1.96. The business has a 50-day simple moving average of $17.37 and a 200-day simple moving average of $9.42.

Insider Transactions at AXT

In other news, 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 completion of the transaction, the chief executive officer directly owned 2,495,564 shares of the company’s stock, valued at approximately $30,071,546.20. This represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David C. Chang sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.84, for a total value 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 143,130 shares of company stock valued at $1,713,221 over the last ninety days. 8.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On AXT

A number of institutional investors and hedge funds have recently bought and sold shares of AXTI. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of AXT during the fourth quarter worth about $22,738,000. White Pine Capital LLC lifted its stake in AXT by 2.8% in the second quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock valued at $1,798,000 after buying an additional 23,467 shares during the last quarter. Maytree Asset Management Ltd acquired a new stake in shares of AXT in the fourth quarter valued at approximately $11,156,000. Assenagon Asset Management S.A. boosted its holdings in shares of AXT by 2,404.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 574,828 shares of the semiconductor company’s stock valued at $9,398,000 after acquiring an additional 551,876 shares during the period. Finally, Citadel Advisors LLC grew its position in shares of AXT by 339.6% during the third quarter. Citadel Advisors LLC now owns 405,978 shares of the semiconductor company’s stock worth $1,823,000 after acquiring an additional 313,618 shares during the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.