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

AXT Inc (NASDAQ:AXTI) CEO Morris Young sold 33,130 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $10.39, for a total value of $344,220.70. Following the completion of the sale, the chief executive officer directly owned 2,476,360 shares of the company’s stock, valued at approximately $25,729,380.40. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

AXT Stock Performance

Shares of NASDAQ AXTI opened at $9.90 on Wednesday. AXT Inc has a one year low of $1.13 and a one year high of $11.88. The firm has a market capitalization of $461.57 million, a P/E ratio of -18.00 and a beta of 2.33. The company’s fifty day moving average is $6.12 and its two-hundred day moving average is $3.52.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AXTI. Citadel Advisors LLC lifted its holdings in AXT by 339.6% in the 3rd quarter. Citadel Advisors LLC now owns 405,978 shares of the semiconductor company’s stock valued at $1,823,000 after purchasing an additional 313,618 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of AXT by 75.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock worth $748,000 after buying an additional 227,333 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of AXT by 43.2% in the first quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company’s stock valued at $752,000 after buying an additional 160,858 shares during the last quarter. Destination Wealth Management purchased a new position in shares of AXT during the third quarter valued at approximately $458,000. Finally, Qube Research & Technologies Ltd lifted its stake in shares of AXT by 39.7% during the third quarter. Qube Research & Technologies Ltd now owns 205,822 shares of the semiconductor company’s stock valued at $924,000 after buying an additional 58,542 shares during the period. 49.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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