Insider Selling: AXT (NASDAQ:AXTI) Director Sells 25,000 Shares of Stock

AXT Inc (NASDAQ:AXTI) Director David Chang sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $12.33, for a total transaction of $308,250.00. Following the completion of the transaction, the director directly owned 157,744 shares of the company’s stock, valued at $1,944,983.52. This represents a 13.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

AXT Price Performance

NASDAQ:AXTI traded up $0.98 during trading hours on Tuesday, hitting $11.76. 6,226,179 shares of the stock traded hands, compared to its average volume of 3,247,720. The firm has a 50 day moving average price of $7.19 and a 200 day moving average price of $4.06. AXT Inc has a fifty-two week low of $1.13 and a fifty-two week high of $12.64.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, October 30th. The semiconductor company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $27.96 million during the quarter, compared to analysts’ expectations of $19.85 million. AXT had a negative return on equity of 11.19% and a negative net margin of 25.22%. Equities analysts expect that AXT Inc will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AXTI. Weiss Ratings reiterated a “sell (d-)” rating on shares of AXT in a report on Wednesday, October 8th. Wall Street Zen raised shares of AXT from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. B. Riley increased their target price on shares of AXT from $4.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Northland Securities set a $10.00 target price on shares of AXT in a research note on Friday, October 31st. Finally, Wedbush set a $7.00 price target on shares of AXT and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AXT has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC bought a new stake in AXT in the first quarter worth $31,000. Jacobs Levy Equity Management Inc. raised its holdings in AXT by 75.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock valued at $748,000 after buying an additional 227,333 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of AXT by 2.8% in the first 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 last quarter. Atlas Brown Inc. boosted its stake in shares of AXT by 100.0% during the 2nd quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 19,575 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of AXT during the 2nd quarter worth about $86,000. Institutional investors own 49.52% of the company’s stock.

AXT Company Profile

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.