AXT (NASDAQ:AXTI) Upgraded to Hold at Wall Street Zen

AXT (NASDAQ:AXTI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on AXTI. Northland Securities set a $20.00 price objective on AXT in a research note on Monday, December 22nd. B. Riley Financial cut AXT from a “buy” rating to a “neutral” rating and increased their target price for the company from $9.00 to $18.00 in a report on Friday, January 9th. Wedbush set a $7.00 price target on AXT and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Needham & Company LLC downgraded AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Craig Hallum restated 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.75.

AXT Stock Performance

Shares of AXTI opened at $24.24 on Friday. AXT has a fifty-two week low of $1.13 and a fifty-two week high of $28.65. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -46.62 and a beta of 1.96. The firm has a 50 day moving average price of $18.78 and a 200-day moving average price of $10.13.

Insider Buying and Selling at AXT

In other news, CEO Morris S. Young sold 35,000 shares of AXT stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $12.05, for a total transaction of $421,750.00. Following the sale, the chief executive officer owned 2,495,564 shares of the company’s stock, valued at approximately $30,071,546.20. The trade was a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David C. Chang sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total transaction of $371,000.00. Following the transaction, the director owned 132,744 shares in the company, valued at $1,969,920.96. This represents a 15.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 143,130 shares of company stock worth $1,713,221. 8.80% of the stock is currently owned by company insiders.

Institutional Trading of AXT

Several institutional investors and hedge funds have recently bought and sold shares of AXTI. XTX Topco Ltd bought a new position in shares of AXT in the 2nd quarter worth approximately $42,000. Jefferies Financial Group Inc. purchased a new stake in AXT in the third quarter worth $52,000. State of Wyoming bought a new position in AXT in the fourth quarter worth $69,000. Creative Planning bought a new position in AXT in the second quarter worth $86,000. Finally, Kestra Advisory Services LLC purchased a new position in AXT during the fourth quarter valued at $98,000. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

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.