AXT (NASDAQ:AXTI) Director Jesse Chen Sells 6,003 Shares of Stock

AXT Inc (NASDAQ:AXTI) Director Jesse Chen sold 6,003 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $48.95, for a total value of $293,846.85. Following the completion of the sale, the director directly owned 117,609 shares of the company’s stock, valued at approximately $5,756,960.55. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, March 13th, Jesse Chen sold 8,083 shares of AXT stock. The stock was sold at an average price of $50.25, for a total value of $406,170.75.
• 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 stock was sold at an average price of $37.69, for a total transaction of $469,315.88.
• On Friday, March 6th, Jesse Chen sold 2,000 shares of AXT stock. The shares were sold at an average price of $36.63, for a total transaction of $73,260.00.
• On Thursday, March 5th, Jesse Chen sold 11,147 shares of AXT stock. The shares were sold at an average price of $38.26, for a total transaction of $426,484.22.
• On Wednesday, March 4th, Jesse Chen sold 8,800 shares of AXT stock. The stock was 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 stock was 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 Performance

Shares of AXTI opened at $48.39 on Tuesday. The firm has a market cap of $2.67 billion, a P/E ratio of -100.81 and a beta of 1.74. AXT Inc has a 52 week low of $1.13 and a 52 week high of $52.70. The firm’s 50-day simple moving average is $28.01 and its 200 day simple moving average is $15.37.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $24.24 million. As a group, equities analysts forecast that AXT Inc will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On AXT

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in AXT during the second quarter worth approximately $42,000. Jefferies Financial Group Inc. acquired a new position in AXT in the 3rd quarter valued at $52,000. State of Wyoming bought a new stake in shares of AXT during the 4th quarter valued at $69,000. Creative Planning acquired a new stake in shares of AXT during the 2nd quarter worth $86,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of AXT during the 4th quarter worth $98,000. 49.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AXTI has been the subject of several recent research reports. UBS Group set a $35.00 price target on AXT in a research note on Tuesday, February 17th. Needham & Company LLC cut AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Craig Hallum reissued a “buy” rating on shares of AXT in a report on Friday, January 9th. Wall Street Zen raised shares of AXT from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Wedbush upped their price target on shares of AXT from $8.50 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AXT presently has an average rating of “Hold” and an average 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.