Morris Young Sells 33,130 Shares of AXT (NASDAQ:AXTI) Stock

AXT Inc (NASDAQ:AXTI) CEO Morris Young sold 33,130 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $10.39, for a total transaction of $344,220.70. Following the completion of the sale, the chief executive officer owned 2,476,360 shares in the company, valued at $25,729,380.40. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

AXT Stock Performance

Shares of AXTI opened at $10.11 on Thursday. The company has a 50-day simple moving average of $6.26 and a 200-day simple moving average of $3.56. AXT Inc has a 52 week low of $1.13 and a 52 week high of $11.88. The firm has a market capitalization of $471.36 million, a P/E ratio of -18.38 and a beta of 2.33.

AXT (NASDAQ:AXTI) last released its earnings results on Thursday, October 30th. The semiconductor company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The business had revenue of $27.96 million for the quarter, compared to the consensus estimate of $19.85 million. AXT had a negative return on equity of 11.38% and a negative net margin of 27.68%. As a group, equities analysts forecast that AXT Inc will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on AXTI. Weiss Ratings restated a “sell (d-)” rating on shares of AXT in a research note on Wednesday, October 8th. B. Riley increased their price objective on shares of AXT from $4.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Northland Securities set a $10.00 target price on shares of AXT in a research report on Friday, October 31st. Needham & Company LLC upped their target price on shares of AXT from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Wedbush set a $7.00 price target on shares of AXT and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Hedge Funds Weigh In On AXT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXTI. Assenagon Asset Management S.A. increased its holdings in shares of AXT by 12.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after buying an additional 2,540 shares in the last quarter. Algert Global LLC grew its position in AXT by 31.9% during the 3rd quarter. Algert Global LLC now owns 28,800 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 6,970 shares during the last quarter. Acadian Asset Management LLC grew its position in AXT by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after acquiring an additional 8,039 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in AXT during the 3rd quarter valued at $52,000. Finally, Atlas Brown Inc. raised its position in AXT by 100.0% in the 2nd quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 19,575 shares during the last quarter. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Company Profile

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.