Insider Selling: AXT (NASDAQ:AXTI) Director Sells 3,637 Shares of Stock

AXT Inc (NASDAQ:AXTI) Director Leonard Leblanc sold 3,637 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $8.41, for a total transaction of $30,587.17. Following the transaction, the director directly owned 118,875 shares in the company, valued at $999,738.75. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AXT Stock Performance

NASDAQ:AXTI traded up $0.98 on Monday, hitting $10.44. The stock had a trading volume of 5,798,577 shares, compared to its average volume of 964,489. AXT Inc has a 1 year low of $1.13 and a 1 year high of $10.55. The firm’s fifty day simple moving average is $5.09 and its two-hundred day simple moving average is $3.07. The stock has a market cap of $481.55 million, a P/E ratio of -18.98 and a beta of 2.33.

Institutional Trading of AXT

A number of large investors have recently modified their holdings of AXTI. XTX Topco Ltd bought a new position in shares of AXT in the second quarter worth approximately $42,000. Algert Global LLC purchased a new position in AXT in the 1st quarter worth approximately $31,000. Assenagon Asset Management S.A. increased its holdings in shares of AXT by 12.4% in the 3rd 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 during the last quarter. Wesbanco Bank Inc. bought a new position in shares of AXT in the 3rd quarter worth $112,000. Finally, Atlas Brown Inc. raised its position in shares of AXT by 100.0% during the 2nd quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 19,575 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About AXT

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.