AXT, Inc. (NASDAQ:AXTI) Director Jesse Chen sold 10,000 shares of AXT stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $13.69, for a total transaction of $136,900.00. Following the transaction, the director now directly owns 113,056 shares in the company, valued at approximately $1,547,736.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
AXT stock traded down $1.11 during mid-day trading on Thursday, reaching $12.95. 16,448 shares of the company’s stock traded hands, compared to its average volume of 547,093. The company has a market cap of $534.84 million, a price-to-earnings ratio of -460.51 and a beta of 2.29. The stock has a 50 day moving average of $11.85 and a two-hundred day moving average of $8.26. AXT, Inc. has a 12-month low of $1.85 and a 12-month high of $15.84.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, February 17th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. AXT had a negative net margin of 1.01% and a negative return on equity of 0.46%. As a group, sell-side analysts forecast that AXT, Inc. will post 0.05 earnings per share for the current year.
AXTI has been the topic of several analyst reports. BWS Financial lifted their price target on shares of AXT from $14.00 to $20.00 and gave the company a “buy” rating in a report on Thursday. Northland Securities boosted their target price on shares of AXT from $10.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, February 19th. Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday. B. Riley boosted their target price on shares of AXT from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Friday, February 19th. Finally, Craig Hallum reissued a “buy” rating and issued a $17.00 target price on shares of AXT in a report on Friday, February 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.20.
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A number of institutional investors have recently added to or reduced their stakes in AXTI. JPMorgan Chase & Co. increased its position in AXT by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 14,558 shares of the semiconductor company’s stock valued at $86,000 after acquiring an additional 1,378 shares during the last quarter. Founders Capital Management bought a new position in AXT during the fourth quarter valued at $29,000. California Public Employees Retirement System increased its position in AXT by 4.5% during the third quarter. California Public Employees Retirement System now owns 90,307 shares of the semiconductor company’s stock valued at $553,000 after acquiring an additional 3,900 shares during the last quarter. Strs Ohio increased its position in AXT by 28.4% during the fourth quarter. Strs Ohio now owns 20,800 shares of the semiconductor company’s stock valued at $199,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of AXT by 306.7% in the fourth quarter. Citigroup Inc. now owns 7,630 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 5,754 shares during the last quarter. 61.83% of the stock is currently owned by institutional investors.
AXT Company Profile
AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging, as well as for 5G.
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