Jesse Chen Sells 8,083 Shares of AXT (NASDAQ:AXTI) Stock

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 8,083 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $50.25, for a total value of $406,170.75. Following the transaction, the director directly owned 109,526 shares of the company’s stock, valued at $5,503,681.50. The trade was a 6.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Jesse Chen also recently made the following trade(s):

• On Thursday, March 12th, Jesse Chen sold 6,003 shares of AXT stock. The stock was sold at an average price of $48.95, for a total value of $293,846.85.
• On Wednesday, March 11th, Jesse Chen sold 15,000 shares of AXT stock. The shares were sold at an average price of $47.13, for a total value of $706,950.00.
• On Tuesday, March 10th, Jesse Chen sold 14,000 shares of AXT stock. The shares were sold at an average price of $46.15, for a total value of $646,100.00.
• On Monday, March 9th, Jesse Chen sold 12,452 shares of AXT stock. The shares were sold at an average price of $37.69, for a total value of $469,315.88.
• On Friday, March 6th, Jesse Chen sold 2,000 shares of AXT stock. The stock was sold at an average price of $36.63, for a total value of $73,260.00.
• On Thursday, March 5th, Jesse Chen sold 11,147 shares of AXT stock. The stock was sold at an average price of $38.26, for a total value of $426,484.22.
• On Wednesday, March 4th, Jesse Chen sold 8,800 shares of AXT stock. The shares were sold at an average price of $38.83, for a total transaction of $341,704.00.
• On Tuesday, March 3rd, Jesse Chen sold 11,007 shares of AXT stock. The shares were sold at an average price of $40.49, for a total transaction of $445,673.43.
• On Monday, March 2nd, Jesse Chen sold 11,320 shares of AXT stock. The stock was sold at an average price of $45.59, for a total transaction of $516,078.80.

AXT Stock Down 1.0%

Shares of AXTI traded down $0.47 during trading hours on Monday, reaching $48.39. 11,052,552 shares of the company traded hands, compared to its average volume of 8,581,526. The company’s fifty day moving average price is $27.38 and its two-hundred day moving average price is $15.05. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -100.81 and a beta of 1.74. AXT Inc has a 12 month low of $1.13 and a 12 month high of $52.70.

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

Hedge Funds Weigh In On AXT

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of AXT during the fourth quarter valued at approximately $69,000. Kestra Advisory Services LLC bought a new stake in shares of AXT in the 4th quarter worth approximately $98,000. Oasis Management Co Ltd. purchased a new stake in shares of AXT in the 4th quarter worth approximately $164,000. Osaic Holdings Inc. grew its stake in shares of AXT by 1,071.5% in the 4th quarter. Osaic Holdings Inc. now owns 11,012 shares of the semiconductor company’s stock worth $180,000 after buying an additional 10,072 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in AXT during the 3rd quarter valued at approximately $52,000. Institutional investors own 49.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXTI shares. Wedbush increased their target price on AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. B. Riley Financial lifted their price target on AXT to $21.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Needham & Company LLC cut AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Northland Securities set a $20.00 price objective on AXT in a report on Monday, December 22nd. Finally, UBS Group set a $35.00 price objective on AXT in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.80.

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.