Monolith Management Ltd purchased a new stake in AXT Inc (NASDAQ:AXTI – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 447,000 shares of the semiconductor company’s stock, valued at approximately $7,308,000. AXT accounts for about 2.7% of Monolith Management Ltd’s investment portfolio, making the stock its 10th largest position.
A number of other hedge funds also recently made changes to their positions in the business. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of AXT in the 4th quarter valued at $22,738,000. Alyeska Investment Group L.P. acquired a new position in shares of AXT in the 4th quarter valued at $20,187,000. Jane Street Group LLC raised its stake in shares of AXT by 1,314.6% in the 4th quarter. Jane Street Group LLC now owns 904,599 shares of the semiconductor company’s stock valued at $14,790,000 after buying an additional 840,650 shares in the last quarter. Maytree Asset Management Ltd acquired a new position in shares of AXT in the 4th quarter valued at $11,156,000. Finally, Assenagon Asset Management S.A. raised its stake 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 valued at $9,398,000 after buying an additional 551,876 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company’s stock.
AXT Stock Down 16.0%
Shares of AXT stock opened at $93.04 on Wednesday. The stock has a market capitalization of $6.09 billion, a P/E ratio of -300.12 and a beta of 1.80. The company has a 50-day simple moving average of $94.46 and a 200 day simple moving average of $51.44. AXT Inc has a 12-month low of $1.80 and a 12-month high of $143.16.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on AXTI shares. Weiss Ratings upgraded shares of AXT from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. B. Riley Financial increased their price objective on shares of AXT to $21.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. UBS Group set a $35.00 price objective on shares of AXT in a research note on Tuesday, February 17th. Northland Securities set a $125.00 price objective on shares of AXT in a research note on Wednesday, June 3rd. Finally, Wedbush increased their price objective on shares of AXT from $8.50 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.80.
View Our Latest Stock Analysis on AXTI
Insider Transactions at AXT
In related news, CEO Morris S. Young sold 123,601 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $113.33, for a total transaction of $14,007,701.33. Following the completion of the sale, the chief executive officer owned 2,149,533 shares in the company, valued at $243,606,574.89. This trade represents a 5.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jesse Chen sold 13,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $95.77, for a total transaction of $1,245,010.00. Following the sale, the director owned 56,447 shares of the company’s stock, valued at $5,405,929.19. This trade represents a 18.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 237,131 shares of company stock valued at $26,152,036 in the last quarter. 5.97% of the stock is currently owned by corporate insiders.
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.
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