Nano Cap New Millennium Growth Fund L P Invests $1.01 Million in AXT Inc $AXTI

Nano Cap New Millennium Growth Fund L P bought a new position in AXT Inc (NASDAQ:AXTI) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 62,000 shares of the semiconductor company’s stock, valued at approximately $1,014,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXTI. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of AXT in the 4th quarter worth about $22,738,000. Maytree Asset Management Ltd purchased a new stake in shares of AXT in the 4th quarter worth about $11,156,000. Assenagon Asset Management S.A. grew its position in shares of 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 buying an additional 551,876 shares during the period. Citadel Advisors LLC grew its position in shares of AXT by 339.6% in the 3rd quarter. Citadel Advisors LLC now owns 405,978 shares of the semiconductor company’s stock worth $1,823,000 after buying an additional 313,618 shares during the period. Finally, Penn Capital Management Company LLC purchased a new stake in shares of AXT in the 3rd quarter worth about $729,000. 49.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of AXT in a research note on Wednesday, May 13th. UBS Group set a $35.00 price target on shares of AXT in a research note on Tuesday, February 17th. Wedbush upped their price target on shares of AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, B. Riley Financial upped their price target on shares of AXT to $21.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.80.

Insider Transactions at AXT

In other news, Director Jesse Chen sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $47.13, for a total value of $706,950.00. Following the transaction, the director owned 123,612 shares in the company, valued at $5,825,833.56. This represents a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Morris S. Young sold 159,536 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $43.32, for a total transaction of $6,911,099.52. Following the completion of the transaction, the chief executive officer owned 2,482,038 shares in the company, valued at $107,521,886.16. This trade represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 502,278 shares of company stock worth $21,196,754 in the last quarter. Company insiders own 5.97% of the company’s stock.

AXT Stock Up 15.7%

Shares of NASDAQ:AXTI opened at $121.02 on Friday. The firm’s 50 day moving average price is $75.60 and its 200-day moving average price is $39.14. AXT Inc has a twelve month low of $1.42 and a twelve month high of $134.00. The stock has a market capitalization of $7.92 billion, a PE ratio of -390.37 and a beta of 1.75.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Thursday, April 30th. The semiconductor company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. AXT had a negative net margin of 14.69% and a negative return on equity of 5.71%. The firm had revenue of $26.92 million for the quarter, compared to analysts’ expectations of $26.22 million. AXT has set its Q2 2026 guidance at 0.060-0.080 EPS. Analysts expect that AXT Inc will post 0.2 earnings per share for the current fiscal year.

AXT 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.