Wesbanco Bank Inc. Invests $112,000 in AXT Inc $AXTI

Wesbanco Bank Inc. acquired a new stake in shares of AXT Inc (NASDAQ:AXTI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 25,000 shares of the semiconductor company’s stock, valued at approximately $112,000. Wesbanco Bank Inc. owned 0.05% of AXT as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in shares of AXT by 12.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 2,540 shares during the period. Acadian Asset Management LLC lifted its holdings in AXT by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock valued at $412,000 after buying an additional 8,039 shares in the last quarter. XTX Topco Ltd purchased a new stake in AXT in the 2nd quarter valued at about $42,000. White Pine Capital LLC grew its stake in AXT by 2.8% in the 2nd quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock worth $1,798,000 after acquiring an additional 23,467 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of AXT during the second quarter worth approximately $86,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Wall Street Analyst Weigh In

AXTI has been the topic of several research analyst reports. Needham & Company LLC cut AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered shares of AXT from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. B. Riley Financial downgraded shares of AXT from a “buy” rating to a “neutral” rating and raised their target price for the company from $9.00 to $18.00 in a research report on Friday, January 9th. Craig Hallum reaffirmed a “buy” rating on shares of AXT in a research report on Friday, January 9th. Finally, Wedbush set a $7.00 price objective on shares of AXT and gave the company an “outperform” rating in a research note on Wednesday, October 29th. 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 stock. Based on data from MarketBeat, AXT presently has an average rating of “Hold” and an average price target of $13.75.

AXT Stock Down 7.5%

Shares of AXTI opened at $24.79 on Friday. The company has a 50 day moving average of $18.53 and a two-hundred day moving average of $9.98. AXT Inc has a twelve month low of $1.13 and a twelve month high of $28.65. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -47.67 and a beta of 1.96.

Insider Transactions at AXT

In other news, Director David C. Chang sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total transaction of $371,000.00. Following the transaction, the director owned 132,744 shares in the company, valued at $1,969,920.96. This represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Morris S. Young sold 35,000 shares of AXT stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $12.05, for a total transaction of $421,750.00. Following the completion of the sale, the chief executive officer owned 2,495,564 shares of the company’s stock, valued at $30,071,546.20. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 143,130 shares of company stock valued at $1,713,221. 8.80% of the stock is currently owned by company insiders.

AXT Profile

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.