Brokerages Set AXT Inc (NASDAQ:AXTI) PT at $13.75

Shares of AXT Inc (NASDAQ:AXTI) have been assigned a consensus rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.75.

Several research firms recently commented on AXTI. Weiss Ratings reiterated a “sell (d-)” rating on shares of AXT in a research note on Wednesday, October 8th. Northland Securities set a $20.00 price objective on AXT in a report on Monday, December 22nd. Wedbush set a $7.00 target price on AXT and gave the company an “outperform” rating in a research note on Wednesday, October 29th. B. Riley downgraded shares of AXT from a “buy” rating to a “neutral” rating and raised their price target for the stock from $9.00 to $18.00 in a research report on Friday. Finally, Craig Hallum reaffirmed a “buy” rating on shares of AXT in a report on Friday.

Insider Transactions at AXT

In other news, Director Leonard J. Leblanc sold 3,637 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $8.41, for a total value of $30,587.17. Following the sale, the director owned 118,875 shares in the company, valued at approximately $999,738.75. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David C. Chang sold 25,000 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $14.84, for a total transaction of $371,000.00. Following the transaction, the director directly owned 132,744 shares in the company, valued at $1,969,920.96. The trade was a 15.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 326,767 shares of company stock valued at $3,329,808. Insiders own 8.80% of the company’s stock.

Institutional Investors Weigh In On AXT

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in shares of AXT by 2,404.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 574,828 shares of the semiconductor company’s stock valued at $9,398,000 after acquiring an additional 551,876 shares in the last quarter. Citadel Advisors LLC increased its stake in AXT by 339.6% during the third quarter. Citadel Advisors LLC now owns 405,978 shares of the semiconductor company’s stock valued at $1,823,000 after purchasing an additional 313,618 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of AXT by 75.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock worth $748,000 after purchasing an additional 227,333 shares during the period. Penn Capital Management Company LLC bought a new position in shares of AXT in the 3rd quarter worth about $729,000. Finally, Destination Wealth Management bought a new position in shares of AXT in the 3rd quarter worth about $458,000. 49.52% of the stock is currently owned by institutional investors.

AXT Trading Down 11.0%

Shares of AXTI stock opened at $22.99 on Friday. The firm has a fifty day simple moving average of $13.23 and a 200-day simple moving average of $6.91. The company has a market capitalization of $1.27 billion, a PE ratio of -44.21 and a beta of 1.94. AXT has a twelve month low of $1.13 and a twelve month high of $26.30.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Thursday, October 30th. The semiconductor company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The firm had revenue of $27.96 million for the quarter, compared to analyst estimates of $19.85 million. AXT had a negative net margin of 25.22% and a negative return on equity of 11.19%. Equities research analysts predict that AXT will post -0.12 EPS for the current year.

AXT Company Profile

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.