AXT Inc (NASDAQ:AXTI – Get Free Report) Director Jesse Chen sold 6,133 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $108.28, for a total value of $664,081.24. Following the completion of the transaction, the director owned 94,193 shares in the company, valued at $10,199,218.04. This represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Jesse Chen also recently made the following trade(s):
- On Wednesday, June 3rd, Jesse Chen sold 4,000 shares of AXT stock. The stock was sold at an average price of $111.36, for a total value of $445,440.00.
- On Friday, March 13th, Jesse Chen sold 8,083 shares of AXT stock. The stock was sold at an average price of $50.25, for a total value of $406,170.75.
- On Thursday, March 12th, Jesse Chen sold 6,003 shares of AXT stock. The stock was sold at an average price of $48.95, for a total value of $293,846.85.
- On Wednesday, March 11th, Jesse Chen sold 15,000 shares of AXT stock. The stock was sold at an average price of $47.13, for a total value of $706,950.00.
- On Tuesday, March 10th, Jesse Chen sold 14,000 shares of AXT stock. The stock was sold at an average price of $46.15, for a total value of $646,100.00.
- On Monday, March 9th, Jesse Chen sold 12,452 shares of AXT stock. The stock was sold at an average price of $37.69, for a total value of $469,315.88.
AXT Price Performance
NASDAQ:AXTI traded down $16.95 during mid-day trading on Friday, reaching $89.04. The stock had a trading volume of 9,672,791 shares, compared to its average volume of 10,342,892. The business’s 50 day moving average is $88.78 and its 200 day moving average is $46.83. AXT Inc has a fifty-two week low of $1.72 and a fifty-two week high of $143.16. The stock has a market cap of $5.82 billion, a P/E ratio of -287.22 and a beta of 1.80.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on AXTI shares. B. Riley Financial upped their target price on AXT to $21.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Wall Street Zen raised AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Wedbush upped their target price on AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Northland Securities set a $125.00 target price on AXT in a research report on Wednesday. Finally, UBS Group set a $35.00 target price on AXT in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AXT presently has a consensus rating of “Hold” and an average target price of $43.80.
View Our Latest Research Report on AXTI
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in AXT by 161.9% in the first quarter. Assenagon Asset Management S.A. now owns 1,505,354 shares of the semiconductor company’s stock worth $85,775,000 after purchasing an additional 930,526 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in AXT in the fourth quarter worth $22,738,000. Alyeska Investment Group L.P. bought a new position in AXT in the fourth quarter worth $20,187,000. Jane Street Group LLC lifted its position in AXT by 1,314.6% in the fourth quarter. Jane Street Group LLC now owns 904,599 shares of the semiconductor company’s stock worth $14,790,000 after purchasing an additional 840,650 shares during the period. Finally, Bank of America Corp DE lifted its position in AXT by 112.0% in the first quarter. Bank of America Corp DE now owns 776,300 shares of the semiconductor company’s stock worth $44,234,000 after purchasing an additional 410,181 shares during the period. 49.52% of the stock is owned by institutional investors.
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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