AXT (NASDAQ:AXTI) Shares Gap Up – Time to Buy?

AXT Inc (NASDAQ:AXTI)’s share price gapped up prior to trading on Monday . The stock had previously closed at $37.90, but opened at $41.73. AXT shares last traded at $41.7310, with a volume of 4,492,046 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AXTI shares. B. Riley Financial lifted their price target on shares of AXT to $21.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Needham & Company LLC lowered AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Craig Hallum reissued a “buy” rating on shares of AXT in a research note on Friday, January 9th. Wedbush increased their target price on shares of AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Northland Securities set a $20.00 price target on shares of AXT in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.80.

AXT Price Performance

The business’s fifty day moving average price is $21.99 and its 200-day moving average price is $12.23. The stock has a market capitalization of $2.44 billion, a PE ratio of -91.49 and a beta of 1.96.

AXT (NASDAQ:AXTI) last posted its earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $23.04 million during the quarter, compared to analysts’ expectations of $24.24 million. AXT had a negative return on equity of 10.59% and a negative net margin of 24.07%. On average, analysts expect that AXT Inc will post -0.12 earnings per share for the current fiscal year.

Insider Activity at AXT

In other news, CEO Morris S. Young sold 35,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $12.05, for a total transaction of $421,750.00. Following the sale, the chief executive officer owned 2,495,564 shares in the company, valued at approximately $30,071,546.20. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David C. Chang sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.84, for a total value of $371,000.00. Following the completion of the sale, the director owned 132,744 shares of the company’s stock, valued at $1,969,920.96. The trade was a 15.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 85,000 shares of company stock worth $1,101,000. 8.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On AXT

Large investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of AXT during the 2nd quarter valued at about $42,000. Jefferies Financial Group Inc. bought a new position in shares of AXT during the 3rd quarter valued at approximately $52,000. State of Wyoming purchased a new stake in AXT in the 4th quarter worth approximately $69,000. Creative Planning bought a new stake in AXT during the 2nd quarter worth approximately $86,000. Finally, Kestra Advisory Services LLC purchased a new position in AXT during the fourth quarter valued at approximately $98,000. 49.52% of the stock is currently owned by institutional investors.

AXT Company 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.