AXT (NASDAQ:AXTI) Director David Chang Sells 100,000 Shares of Stock

AXT Inc (NASDAQ:AXTI) Director David Chang sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $8.94, for a total value of $894,000.00. Following the completion of the transaction, the director directly owned 207,744 shares in the company, valued at $1,857,231.36. The trade was a 32.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

AXT Price Performance

AXTI stock opened at $8.87 on Friday. The business has a fifty day moving average price of $4.96 and a 200 day moving average price of $2.99. AXT Inc has a fifty-two week low of $1.13 and a fifty-two week high of $9.84. The stock has a market capitalization of $409.13 million, a price-to-earnings ratio of -16.13 and a beta of 2.33.

Hedge Funds Weigh In On AXT

Several hedge funds have recently added to or reduced their stakes in AXTI. Jacobs Levy Equity Management Inc. increased its stake in shares of AXT by 75.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock valued at $748,000 after acquiring an additional 227,333 shares during the last quarter. GSA Capital Partners LLP raised its holdings in AXT by 43.2% in the first quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company’s stock worth $752,000 after purchasing an additional 160,858 shares during the period. Atlas Brown Inc. boosted its position in shares of AXT by 100.0% during the second quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 19,575 shares in the last quarter. Algert Global LLC bought a new stake in shares of AXT in the 1st quarter valued at $31,000. Finally, Acadian Asset Management LLC raised its stake in AXT by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after buying an additional 8,039 shares during the period. Institutional investors and hedge funds own 49.52% of the company’s stock.

Analyst Ratings Changes

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