AXT (NASDAQ:AXTI) Director Sells $445,673.43 in Stock

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 11,007 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $40.49, for a total value of $445,673.43. Following the transaction, the director directly owned 187,011 shares in the company, valued at approximately $7,572,075.39. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 value of $516,078.80.

AXT Stock Performance

AXTI stock traded down $4.56 on Tuesday, hitting $41.76. 13,391,644 shares of the company’s stock were exchanged, compared to its average volume of 7,416,519. The firm has a 50 day moving average price of $23.16 and a two-hundred day moving average price of $12.83. AXT Inc has a 12-month low of $1.13 and a 12-month high of $47.03. The stock has a market cap of $2.31 billion, a P/E ratio of -87.00 and a beta of 1.75.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $23.04 million during the quarter, compared to analyst estimates of $24.24 million. AXT had a negative return on equity of 10.59% and a negative net margin of 24.07%. Sell-side analysts expect that AXT Inc will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AXT during the fourth quarter worth $2,939,000. XTX Topco Ltd boosted its position in AXT by 173.7% during the fourth quarter. XTX Topco Ltd now owns 35,201 shares of the semiconductor company’s stock worth $576,000 after acquiring an additional 22,338 shares during the last quarter. SummitTX Capital L.P. purchased a new stake in AXT during the 4th quarter valued at about $228,000. Tudor Investment Corp ET AL purchased a new stake in AXT during the 4th quarter valued at about $278,000. Finally, Millennium Management LLC raised its holdings in AXT by 577.2% in the 4th quarter. Millennium Management LLC now owns 205,503 shares of the semiconductor company’s stock valued at $3,360,000 after acquiring an additional 175,158 shares during the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Northland Securities set a $20.00 price objective on shares of AXT in a research note on Monday, December 22nd. Craig Hallum reaffirmed a “buy” rating on shares of AXT in a report on Friday, January 9th. Needham & Company LLC downgraded 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. Finally, Wedbush boosted their price objective on AXT from $8.50 to $28.00 and gave the company an “outperform” rating in a report 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.