AXT Inc (NASDAQ:AXTI) Receives Consensus Rating of “Hold” from Analysts

Shares of AXT Inc (NASDAQ:AXTI) have earned an average recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.75.

AXTI has been the topic of a number of recent research reports. Wall Street Zen lowered AXT from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. B. Riley cut shares of AXT from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $9.00 to $18.00 in a research note on Friday, January 9th. Northland Securities set a $20.00 price objective on shares of AXT in a research note on Monday, December 22nd. Craig Hallum reissued a “buy” rating on shares of AXT in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AXT in a report on Wednesday, October 8th.

Insider Transactions at AXT

In other news, CEO Morris S. Young sold 35,000 shares of AXT stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $12.05, for a total transaction of $421,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,495,564 shares of the company’s stock, valued at $30,071,546.20. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David C. Chang sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total transaction of $371,000.00. Following the completion of the transaction, the director owned 132,744 shares of the company’s stock, valued at approximately $1,969,920.96. This represents a 15.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 246,767 shares of company stock worth $2,637,808 over the last quarter. 8.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AXT

Several hedge funds have recently modified their holdings of the company. White Pine Capital LLC increased its position in shares of AXT by 2.8% in the second quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock valued at $1,798,000 after buying an additional 23,467 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in AXT by 2,404.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 574,828 shares of the semiconductor company’s stock worth $9,398,000 after acquiring an additional 551,876 shares in the last quarter. Citadel Advisors LLC raised its position in AXT by 339.6% during the third quarter. Citadel Advisors LLC now owns 405,978 shares of the semiconductor company’s stock worth $1,823,000 after acquiring an additional 313,618 shares during the period. Acadian Asset Management LLC lifted its holdings in AXT by 2.8% during the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock valued at $412,000 after purchasing an additional 8,039 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of AXT by 39.7% in the third quarter. Qube Research & Technologies Ltd now owns 205,822 shares of the semiconductor company’s stock valued at $924,000 after purchasing an additional 58,542 shares during the period. 49.52% of the stock is owned by hedge funds and other institutional investors.

AXT Price Performance

NASDAQ AXTI opened at $20.94 on Tuesday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -40.27 and a beta of 1.96. The stock’s fifty day moving average price is $16.53 and its 200 day moving average price is $8.91. AXT has a 1 year low of $1.13 and a 1 year high of $26.66.

About AXT

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.