AXT (NASDAQ:AXTI) CEO Morris Young Sells 80,000 Shares of Stock

AXT Inc (NASDAQ:AXTI) CEO Morris Young sold 80,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $8.65, for a total transaction of $692,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,439,490 shares of the company’s stock, valued at approximately $21,101,588.50. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

AXT Trading Up 0.9%

Shares of NASDAQ AXTI opened at $8.54 on Wednesday. The firm has a market cap of $393.91 million, a PE ratio of -15.53 and a beta of 2.26. AXT Inc has a 1-year low of $1.13 and a 1-year high of $9.84. The company has a fifty day moving average price of $4.72 and a 200 day moving average price of $2.91.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AXTI shares. Northland Securities set a $10.00 target price on shares of AXT in a research note on Friday. B. Riley upped their target price on shares of AXT from $4.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush set a $7.00 price target on shares of AXT and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of AXT in a research report on Wednesday, October 8th. Finally, Needham & Company LLC boosted their price target on shares of AXT from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Institutional Investors Weigh In On AXT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of AXT by 12.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 2,540 shares during the period. XTX Topco Ltd bought a new stake in shares of AXT in the 2nd quarter valued at about $42,000. White Pine Capital LLC raised its holdings in shares of AXT by 2.8% in the 2nd quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock valued at $1,798,000 after purchasing an additional 23,467 shares during the period. Creative Planning bought a new stake in shares of AXT in the 2nd quarter valued at about $86,000. Finally, Atlas Brown Inc. raised its holdings in shares of AXT by 100.0% in the 2nd quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 19,575 shares during the period. 49.52% of the stock is owned by institutional investors.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.