AXT Inc (NASDAQ:AXTI – Get Free Report) Director Jesse Chen sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $94.00, for a total value of $564,000.00. Following the completion of the sale, the director directly owned 88,947 shares in the company, valued at approximately $8,361,018. The trade was a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Jesse Chen also recently made the following trade(s):
- On Wednesday, June 10th, Jesse Chen sold 9,000 shares of AXT stock. The shares were sold at an average price of $86.73, for a total value of $780,570.00.
- On Tuesday, June 9th, Jesse Chen sold 1,500 shares of AXT stock. The shares were sold at an average price of $93.30, for a total value of $139,950.00.
- On Thursday, June 4th, Jesse Chen sold 6,133 shares of AXT stock. The shares were sold at an average price of $108.28, for a total value of $664,081.24.
- On Wednesday, June 3rd, Jesse Chen sold 4,000 shares of AXT stock. The shares were 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 shares were 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 shares were sold at an average price of $48.95, for a total value of $293,846.85.
AXT Price Performance
Shares of NASDAQ:AXTI traded up $6.93 on Wednesday, hitting $85.29. The company’s stock had a trading volume of 9,311,063 shares, compared to its average volume of 8,317,978. The company has a 50-day simple moving average of $90.87 and a 200 day simple moving average of $48.97. AXT Inc has a 1 year low of $1.80 and a 1 year high of $143.16. The company has a market capitalization of $5.58 billion, a PE ratio of -275.12 and a beta of 1.80.
Hedge Funds Weigh In On AXT
Several institutional investors have recently modified their holdings of AXTI. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of AXT during the 4th quarter valued at about $22,738,000. Alyeska Investment Group L.P. bought a new position in AXT during the 4th quarter worth approximately $20,187,000. Assenagon Asset Management S.A. grew its position in AXT by 161.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,505,354 shares of the semiconductor company’s stock worth $85,775,000 after acquiring an additional 930,526 shares during the last quarter. Jane Street Group LLC grew its position in AXT by 1,314.6% during the 4th quarter. Jane Street Group LLC now owns 904,599 shares of the semiconductor company’s stock worth $14,790,000 after acquiring an additional 840,650 shares during the last quarter. Finally, Ariose Capital Management Ltd bought a new position in AXT during the 1st quarter worth approximately $39,061,000. 49.52% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
AXTI has been the topic of several recent analyst reports. Wall Street Zen raised AXT from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. B. Riley Financial increased their price objective on AXT to $21.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Weiss Ratings upgraded AXT from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. Northland Securities set a $125.00 price objective on AXT in a research report on Wednesday, June 3rd. Finally, Wedbush increased their price objective on AXT from $8.50 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.80.
Check Out Our Latest Stock Report on AXTI
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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