Key Points
- AXT CEO Morris Young sold 37,905 shares at an average price of $51.13 for a total of $1,938,082.65, trimming his stake by 1.64% to 2,275,328 shares (SEC filing disclosed).
- The company missed quarterly expectations, reporting EPS of ($0.05) vs. ($0.04) expected and revenue of $23.04 million vs. $24.24 million, and continues to show negative net margin and return on equity.
- Analyst views are mixed with an average rating of "Hold" and an average price target of $22.80 (two Buys, two Holds, one Sell), reflecting cautious sentiment despite recent higher individual targets.
AXT Inc (NASDAQ:AXTI - Get Free Report) Director Jesse Chen sold 6,003 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $48.95, for a total transaction of $293,846.85. Following the sale, the director owned 117,609 shares in the company, valued at $5,756,960.55. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Jesse Chen also recently made the following trade(s):
- On Friday, March 13th, Jesse Chen sold 8,083 shares of AXT stock. The shares were sold at an average price of $50.25, for a total transaction of $406,170.75.
- On Wednesday, March 11th, Jesse Chen sold 15,000 shares of AXT stock. The stock was sold at an average price of $47.13, for a total transaction of $706,950.00.
- On Tuesday, March 10th, Jesse Chen sold 14,000 shares of AXT stock. The stock was sold at an average price of $46.15, for a total transaction of $646,100.00.
- On Monday, March 9th, Jesse Chen sold 12,452 shares of AXT stock. The stock was sold at an average price of $37.69, for a total transaction of $469,315.88.
- On Friday, March 6th, Jesse Chen sold 2,000 shares of AXT stock. The shares were sold at an average price of $36.63, for a total transaction of $73,260.00.
- On Thursday, March 5th, Jesse Chen sold 11,147 shares of AXT stock. The shares were sold at an average price of $38.26, for a total transaction of $426,484.22.
- On Wednesday, March 4th, Jesse Chen sold 8,800 shares of AXT stock. The stock was sold at an average price of $38.83, for a total value of $341,704.00.
- On Tuesday, March 3rd, Jesse Chen sold 11,007 shares of AXT stock. The shares were sold at an average price of $40.49, for a total value of $445,673.43.
- On Monday, March 2nd, Jesse Chen sold 11,320 shares of AXT stock. The shares were sold at an average price of $45.59, for a total value of $516,078.80.
AXT Stock Performance
Shares of AXTI opened at $48.39 on Tuesday. AXT Inc has a 52-week low of $1.13 and a 52-week high of $52.70. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -100.81 and a beta of 1.74. The business's fifty day moving average is $28.01 and its 200-day moving average is $15.37.
AXT (NASDAQ:AXTI - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $24.24 million. AXT had a negative return on equity of 10.59% and a negative net margin of 24.07%. As a group, research analysts forecast that AXT Inc will post -0.12 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in AXT in the 4th quarter valued at approximately $2,939,000. XTX Topco Ltd boosted its position in AXT by 173.7% during the 4th quarter. XTX Topco Ltd now owns 35,201 shares of the semiconductor company's stock worth $576,000 after buying an additional 22,338 shares during the period. SummitTX Capital L.P. bought a new stake in AXT during the 4th quarter worth approximately $228,000. Tudor Investment Corp ET AL bought a new stake in AXT during the 4th quarter worth approximately $278,000. Finally, Millennium Management LLC increased its position 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 period. Institutional investors and hedge funds own 49.52% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on AXTI. Wall Street Zen upgraded shares of AXT from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Wedbush increased their price objective on shares of AXT from $8.50 to $28.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. UBS Group set a $35.00 target price on shares of AXT in a research report on Tuesday, February 17th. B. Riley Financial boosted their target price on shares of AXT to $21.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Finally, Craig Hallum reiterated a "buy" rating on shares of AXT in a report on Friday, January 9th. 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.80.
Read Our Latest Research Report on AXTI
About AXT
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
