Jesse Chen Sells 39,593 Shares of AXT Inc. (AXTI) Stock
AXT Inc. (NASDAQ:AXTI) Director Jesse Chen sold 39,593 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $5.30, for a total value of $209,842.90. Following the completion of the sale, the director now owns 143,666 shares of the company’s stock, valued at approximately $761,429.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Jesse Chen also recently made the following trade(s):
- On Wednesday, November 16th, Jesse Chen sold 26,000 shares of AXT stock. The shares were sold at an average price of $5.15, for a total value of $133,900.00.
AXT Inc. (NASDAQ:AXTI) opened at 5.25 on Tuesday. AXT Inc. has a 52-week low of $2.28 and a 52-week high of $5.97. The firm has a market capitalization of $169.09 million, a PE ratio of 86.07 and a beta of 1.42. The stock’s 50 day moving average price is $5.34 and its 200 day moving average price is $4.19.
AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. AXT had a return on equity of 1.62% and a net margin of 2.75%. The business had revenue of $21.90 million for 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, analysts predict that AXT Inc. will post $0.14 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. purchased a new position in AXT during the third quarter valued at approximately $120,000. KCG Holdings Inc. increased its position in AXT by 67.7% in the third quarter. KCG Holdings Inc. now owns 42,484 shares of the company’s stock valued at $220,000 after buying an additional 17,151 shares during the last quarter. Morgan Stanley increased its position in AXT by 127.1% in the third quarter. Morgan Stanley now owns 65,283 shares of the company’s stock valued at $339,000 after buying an additional 36,542 shares during the last quarter. ClariVest Asset Management LLC increased its position in AXT by 43.4% in the third quarter. ClariVest Asset Management LLC now owns 369,640 shares of the company’s stock valued at $1,918,000 after buying an additional 111,959 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in AXT during the third quarter valued at approximately $983,000. Institutional investors and hedge funds own 44.51% of the company’s stock.
AXTI has been the subject of a number of recent analyst reports. Northland Securities upped their price objective on AXT from $4.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday, September 29th. Zacks Investment Research upgraded AXT from a “hold” rating to a “strong-buy” rating and set a $4.50 price target for the company in a report on Tuesday, August 23rd. Needham & Company LLC upgraded AXT from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Thursday, July 28th. Finally, B. Riley restated a “buy” rating and issued a $4.80 price target on shares of AXT in a report on Thursday, July 28th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. AXT currently has a consensus rating of “Buy” and an average target price of $6.19.
AXT Company Profile
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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