AXT Inc. (AXTI) Director Jesse Chen Sells 16,388 Shares
AXT Inc. (NASDAQ:AXTI) Director Jesse Chen sold 16,388 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $5.30, for a total value of $86,856.40. Following the completion of the sale, the director now owns 127,278 shares in the company, valued at approximately $674,573.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Jesse Chen also recently made the following trade(s):
- On Monday, November 21st, Jesse Chen sold 39,593 shares of AXT stock. The shares were sold at an average price of $5.30, for a total value of $209,842.90.
- 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) remained flat at $5.10 on Thursday. The company had a trading volume of 140,232 shares. The firm’s 50 day moving average price is $5.31 and its 200 day moving average price is $4.21. The stock has a market capitalization of $164.26 million, a PE ratio of 83.61 and a beta of 1.42. AXT Inc. has a 12-month low of $2.28 and a 12-month high of $5.97.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $21.90 million for the quarter, compared to analyst estimates of $12.52 billion. AXT had a return on equity of 1.62% and a net margin of 2.75%. The company’s revenue was up 19.2% on a year-over-year basis. Equities analysts predict that AXT Inc. will post $0.14 EPS for the current fiscal year.
Several research firms have commented on AXTI. B. Riley restated a “buy” rating and issued a $6.75 target price on shares of AXT in a research note on Tuesday, November 1st. Needham & Company LLC boosted their price target on AXT from $5.50 to $6.50 and gave the stock a “buy” rating in a research report on Thursday, October 27th. Northland Securities boosted their price target on AXT from $4.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, September 29th. Finally, Zacks Investment Research raised AXT from a “hold” rating to a “strong-buy” rating and set a $4.50 price target on the stock in a research report on Tuesday, August 23rd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $6.19.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC purchased a new position in shares of AXT during the third quarter valued at about $983,000. Wells Fargo & Company MN raised its position in shares of AXT by 720.3% in the third quarter. Wells Fargo & Company MN now owns 195,225 shares of the company’s stock valued at $1,013,000 after buying an additional 171,425 shares during the last quarter. Alambic Investment Management L.P. raised its position in shares of AXT by 63.0% in the third quarter. Alambic Investment Management L.P. now owns 20,700 shares of the company’s stock valued at $107,000 after buying an additional 8,000 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of AXT by 18.5% in the third quarter. Acadian Asset Management LLC now owns 58,808 shares of the company’s stock valued at $306,000 after buying an additional 9,193 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of AXT during the third quarter valued at about $430,000. Institutional investors and hedge funds own 44.51% of the company’s stock.
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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