Key Points
- AXT CEO Morris Young sold 33,130 shares at an average of $10.39 on Nov. 17 for a total of $344,220.70, cutting his stake by 1.32% to 2,476,360 shares (valued at about $25.73M).
- The stock opened at $9.90 and was trading down 3.4%; AXT reported Q3 EPS of ($0.04) versus a ($0.12) estimate and revenue of $27.96M (beating estimates) but still shows a negative net margin (~27.7%) and negative ROE.
- Analyst sentiment is mixed but positive on balance with a consensus rating of "Moderate Buy" and an average price target of $9.00 (three Buys, one Sell), while institutional investors own about 49.52% of the shares.
AXT Inc (NASDAQ:AXTI - Get Free Report) CEO Morris Young sold 33,130 shares of the company's stock in a transaction on Monday, November 17th. The shares were sold at an average price of $10.39, for a total value of $344,220.70. Following the completion of the transaction, the chief executive officer owned 2,476,360 shares of the company's stock, valued at $25,729,380.40. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
AXT Trading Down 3.4%
Shares of NASDAQ:AXTI opened at $9.90 on Wednesday. The firm has a market cap of $461.57 million, a price-to-earnings ratio of -18.00 and a beta of 2.33. The stock's 50-day moving average price is $6.12 and its two-hundred day moving average price is $3.52. AXT Inc has a 12-month low of $1.13 and a 12-month high of $11.88.
AXT (NASDAQ:AXTI - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The semiconductor company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.08. AXT had a negative net margin of 27.68% and a negative return on equity of 11.38%. The business had revenue of $27.96 million for the quarter, compared to analyst estimates of $19.85 million. As a group, research analysts forecast that AXT Inc will post -0.12 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AXT
Several hedge funds and other institutional investors have recently made changes to their positions in AXTI. Algert Global LLC acquired a new stake in AXT in the 1st quarter valued at $31,000. XTX Topco Ltd acquired a new position in shares of AXT during the second quarter worth about $42,000. Jefferies Financial Group Inc. purchased a new stake in shares of AXT in the third quarter worth about $52,000. Atlas Brown Inc. boosted its position in shares of AXT by 100.0% in the second quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company's stock worth $82,000 after buying an additional 19,575 shares during the period. Finally, Creative Planning acquired a new stake in shares of AXT in the second quarter valued at about $86,000. Institutional investors and hedge funds own 49.52% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on AXTI. Wedbush set a $7.00 price target on shares of AXT and gave the company an "outperform" rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AXT in a research report on Wednesday, October 8th. Northland Securities set a $10.00 target price on AXT in a report on Friday, October 31st. Needham & Company LLC boosted their price target on AXT from $5.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, October 31st. Finally, B. Riley upped their price target on AXT from $4.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.
Check Out Our Latest Stock Analysis on AXTI
AXT Company Profile
(
Get Free Report)
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.
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