Insider Selling: AXT Inc. (AXTI) VP Sells $415,035.27 in Stock
AXT Inc. (NASDAQ:AXTI) VP Robert G. Ochrym sold 81,861 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $5.07, for a total transaction of $415,035.27. Following the sale, the vice president now directly owns 117,861 shares of the company’s stock, valued at $597,555.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
AXT Inc. (NASDAQ:AXTI) opened at 4.75 on Monday. AXT Inc. has a 52-week low of $2.28 and a 52-week high of $5.97. The firm has a 50-day moving average of $5.32 and a 200-day moving average of $4.07. The stock has a market capitalization of $152.52 million, a PE ratio of 77.87 and a beta of 1.42.
AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, October 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. AXT had a net margin of 2.75% and a return on equity of 1.62%. The company earned $21.90 million during the quarter, compared to the consensus estimate of $12.52 billion. The company’s revenue was up 19.2% on a year-over-year basis. On average, equities analysts expect that AXT Inc. will post $0.14 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. EAM Investors LLC bought a new stake in AXT during the second quarter worth about $1,289,000. Bank of New York Mellon Corp increased its stake in AXT by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 65,472 shares of the company’s stock worth $209,000 after buying an additional 805 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in AXT during the second quarter worth about $822,000. Acadian Asset Management LLC bought a new stake in AXT during the second quarter worth about $158,000. Finally, Essex Investment Management Co. LLC bought a new stake in AXT during the third quarter worth about $983,000. Institutional investors own 43.64% of the company’s stock.
A number of brokerages recently weighed in on AXTI. B. Riley reaffirmed a “buy” rating and set a $6.75 price target on shares of AXT in a research report on Tuesday, November 1st. Zacks Investment Research cut shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Needham & Company LLC raised shares of AXT from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Thursday, July 28th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. AXT presently has an average rating of “Buy” and an average target price of $6.19.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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