Key Points
- AXT CEO Morris Young sold 35,000 shares at an average price of $12.05 on Dec. 4 for proceeds of $421,750, leaving him with 2,495,564 shares (a 1.38% reduction).
- AXT beat recent quarterly estimates — EPS of ($0.04) vs. ($0.12) expected and revenue of $27.96M vs. $19.85M, though the company remains unprofitable with a -25.22% net margin and negative ROE.
- Market and analyst backdrop: Shares are trading near a 12‑month high (stock up ~9.8%, opened at $12.71), market cap ~$592.5M, and analysts have a consensus "Moderate Buy" with an average price target of $9.00.
AXT Inc (NASDAQ:AXTI - Get Free Report) CEO Morris Young sold 35,000 shares of AXT stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $12.05, for a total value of $421,750.00. Following the transaction, the chief executive officer owned 2,495,564 shares in the company, valued at approximately $30,071,546.20. This represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
AXT Trading Up 9.8%
Shares of AXTI stock opened at $12.71 on Tuesday. AXT Inc has a twelve month low of $1.13 and a twelve month high of $13.20. The company's 50-day moving average price is $7.91 and its 200-day moving average price is $4.43. The stock has a market cap of $592.54 million, a price-to-earnings ratio of -24.44 and a beta of 1.97.
AXT (NASDAQ:AXTI - Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.08. The firm had revenue of $27.96 million during the quarter, compared to analysts' expectations of $19.85 million. AXT had a negative net margin of 25.22% and a negative return on equity of 11.19%. As a group, equities research analysts predict that AXT Inc will post -0.12 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC raised its holdings in shares of AXT by 339.6% in the 3rd quarter. Citadel Advisors LLC now owns 405,978 shares of the semiconductor company's stock valued at $1,823,000 after buying an additional 313,618 shares during the period. Jacobs Levy Equity Management Inc. grew its position in AXT by 75.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company's stock valued at $748,000 after acquiring an additional 227,333 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in AXT in the 3rd quarter valued at about $729,000. Destination Wealth Management purchased a new stake in AXT during the third quarter worth about $458,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of AXT by 39.7% during the third quarter. Qube Research & Technologies Ltd now owns 205,822 shares of the semiconductor company's stock worth $924,000 after purchasing an additional 58,542 shares in the last quarter. 49.52% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have recently commented on AXTI shares. B. Riley lifted their price target on shares of AXT from $4.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, October 31st. Weiss Ratings restated a "sell (d-)" rating on shares of AXT in a research report on Wednesday, October 8th. Wall Street Zen upgraded AXT from a "sell" rating to a "hold" rating in a report on Saturday, November 22nd. Needham & Company LLC raised their price objective on AXT from $5.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, October 31st. Finally, Northland Securities set a $10.00 target price on shares of AXT in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, AXT has a consensus rating of "Moderate Buy" and an average price target of $9.00.
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About AXT
(
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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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