AXT Inc $AXTI Shares Sold by Park Edge Advisors LLC

Park Edge Advisors LLC cut its holdings in shares of AXT Inc (NASDAQ:AXTI) by 21.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,800 shares of the semiconductor company’s stock after selling 13,700 shares during the period. Park Edge Advisors LLC owned approximately 0.09% of AXT worth $798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in AXT in the 2nd quarter valued at approximately $42,000. Jefferies Financial Group Inc. bought a new stake in AXT during the 3rd quarter valued at $52,000. Creative Planning acquired a new position in AXT during the 2nd quarter worth $86,000. Assenagon Asset Management S.A. boosted its position in AXT by 12.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after acquiring an additional 2,540 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. grew its stake in shares of AXT by 2,333,600.0% in the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 23,337 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 23,336 shares in the last quarter. 49.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AXTI has been the topic of a number of research analyst reports. Craig Hallum reissued a “buy” rating on shares of AXT in a report on Friday, January 9th. B. Riley Financial upped their price objective on shares of AXT to $21.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Wall Street Zen raised shares of AXT from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Northland Securities set a $20.00 target price on shares of AXT in a research note on Monday, December 22nd. Finally, Wedbush upped their price target on shares of AXT from $8.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Two 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 company currently has an average rating of “Hold” and an average price target of $22.80.

Insider Buying and Selling at AXT

In related news, CEO Morris S. Young sold 37,905 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $51.13, for a total value of $1,938,082.65. Following the sale, the chief executive officer directly owned 2,275,328 shares in the company, valued at $116,337,520.64. The trade was a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jesse Chen sold 8,083 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $50.25, for a total transaction of $406,170.75. Following the sale, the director directly owned 109,526 shares of the company’s stock, valued at approximately $5,503,681.50. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 502,278 shares of company stock valued at $21,196,754. 8.80% of the stock is owned by insiders.

AXT Stock Performance

AXTI opened at $52.84 on Friday. AXT Inc has a one year low of $1.13 and a one year high of $71.49. The stock’s fifty day moving average is $36.94 and its 200-day moving average is $20.01. The company has a market capitalization of $2.94 billion, a PE ratio of -110.08 and a beta of 1.51.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $23.04 million for the quarter, compared to the consensus estimate of $24.24 million. AXT had a negative net margin of 24.07% and a negative return on equity of 9.50%. On average, equities research analysts forecast that AXT Inc will post -0.12 EPS for the current fiscal year.

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.