AXT Inc (AXTI) CEO Morris S. Young Sells 50,000 Shares
AXT Inc (NASDAQ:AXTI) CEO Morris S. Young sold 50,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $8.86, for a total transaction of $443,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
AXT Inc (NASDAQ AXTI) traded up $0.30 during trading hours on Wednesday, reaching $9.10. The company’s stock had a trading volume of 244,039 shares, compared to its average volume of 406,114. The stock has a market cap of $350.79, a PE ratio of 37.92, a PEG ratio of 2.00 and a beta of 1.13. AXT Inc has a 52 week low of $4.35 and a 52 week high of $9.70.
AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $28.17 million during the quarter, compared to analyst estimates of $27.05 million. AXT had a return on equity of 5.84% and a net margin of 9.96%. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. analysts expect that AXT Inc will post 0.26 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the stock. Systematic Financial Management LP acquired a new stake in shares of AXT during the second quarter worth about $3,782,000. State Street Corp boosted its stake in AXT by 2,392.6% in the 2nd quarter. State Street Corp now owns 461,458 shares of the semiconductor company’s stock valued at $2,931,000 after purchasing an additional 442,945 shares during the period. New York State Common Retirement Fund raised its holdings in AXT by 233.8% in the 2nd quarter. New York State Common Retirement Fund now owns 608,093 shares of the semiconductor company’s stock valued at $3,861,000 after acquiring an additional 425,912 shares in the last quarter. Northpointe Capital LLC raised its holdings in AXT by 44.1% in the 2nd quarter. Northpointe Capital LLC now owns 1,123,791 shares of the semiconductor company’s stock valued at $7,136,000 after acquiring an additional 343,758 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AXT by 15.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,593,023 shares of the semiconductor company’s stock worth $15,040,000 after buying an additional 341,318 shares in the last quarter. Institutional investors and hedge funds own 60.76% of the company’s stock.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. B. Riley reiterated a “neutral” rating and issued a $7.00 price target on shares of AXT in a report on Friday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target (up from $10.00) on shares of AXT in a research note on Thursday, October 26th. BWS Financial raised their price target on shares of AXT from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, BidaskClub raised shares of AXT from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. AXT presently has a consensus rating of “Buy” and a consensus price target of $9.95.
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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