Key Points
- Director David Chang sold 25,000 shares of AXT on Nov. 28 at an average price of $10.72 for about $268,000, cutting his holding by 12.03% to 182,744 shares, per an SEC filing.
- AXT beat recent quarterly expectations, reporting EPS of ($0.04) vs. estimates of ($0.12) and revenue of $27.96M vs. $19.85M, though the company remains unprofitable with negative net margin and ROE.
- Analyst sentiment is modestly positive—three Buy ratings vs. one Sell, yielding a MarketBeat consensus "Moderate Buy" and a $9.00 average price target after several firms raised forecasts.
AXT Inc (NASDAQ:AXTI - Get Free Report) Director David Chang sold 25,000 shares of the company's stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $10.72, for a total transaction of $268,000.00. Following the completion of the transaction, the director owned 182,744 shares in the company, valued at approximately $1,959,015.68. This represents a 12.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
AXT Stock Performance
NASDAQ:AXTI opened at $11.76 on Wednesday. AXT Inc has a fifty-two week low of $1.13 and a fifty-two week high of $12.64. The company has a 50 day moving average price of $7.33 and a 200 day moving average price of $4.13. The stock has a market capitalization of $548.25 million, a P/E ratio of -22.62 and a beta of 1.97.
AXT (NASDAQ:AXTI - Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The semiconductor company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. AXT had a negative return on equity of 11.19% and a negative net margin of 25.22%.The company had revenue of $27.96 million for the quarter, compared to analysts' expectations of $19.85 million. Research analysts forecast that AXT Inc will post -0.12 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AXT
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. purchased a new stake in shares of AXT during the third quarter worth approximately $52,000. XTX Topco Ltd acquired a new position in AXT during the 2nd quarter worth approximately $42,000. Algert Global LLC purchased a new stake in shares of AXT in the 1st quarter valued at approximately $31,000. Assenagon Asset Management S.A. increased its position in shares of AXT by 12.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company's stock valued at $103,000 after purchasing an additional 2,540 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. raised its holdings in shares of AXT by 2,333,600.0% in the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 23,337 shares of the semiconductor company's stock valued at $105,000 after purchasing an additional 23,336 shares in the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on AXTI shares. B. Riley increased their target price on AXT from $4.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, October 31st. Wedbush set a $7.00 price target on shares of AXT and gave the stock an "outperform" rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of AXT in a research note on Wednesday, October 8th. Needham & Company LLC upped their target price on shares of AXT from $5.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, October 31st. Finally, Northland Securities set a $10.00 target price on shares of AXT in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.00.
Check Out Our Latest Research Report on AXTI
About AXT
(
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.
Further Reading
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