AXT (NASDAQ:AXTI) CEO Sells $344,220.70 in Stock

AXT Inc (NASDAQ:AXTI) CEO Morris Young sold 33,130 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $10.39, for a total value of $344,220.70. Following the completion of the transaction, the chief executive officer directly owned 2,476,360 shares in the company, valued at approximately $25,729,380.40. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AXT Trading Down 3.4%

AXTI stock traded down $0.35 during mid-day trading on Tuesday, hitting $9.90. 2,382,116 shares of the company were exchanged, compared to its average volume of 1,044,567. The company has a market capitalization of $461.57 million, a PE ratio of -18.00 and a beta of 2.33. The firm has a fifty day simple moving average of $5.99 and a 200 day simple moving average of $3.46. AXT Inc has a twelve month low of $1.13 and a twelve month high of $11.88.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Northland Securities set a $10.00 price target on shares of AXT in a report on Friday, October 31st. Wedbush set a $7.00 target price on AXT and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Needham & Company LLC boosted their price target on shares of AXT from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AXT in a report on Wednesday, October 8th. Finally, B. Riley lifted their price objective on shares of AXT from $4.00 to $9.00 and gave the company 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Hedge Funds Weigh In On AXT

Several large investors have recently made changes to their positions in AXTI. Jefferies Financial Group Inc. bought a new stake in shares of AXT during the 3rd quarter worth $52,000. XTX Topco Ltd purchased a new position in shares of AXT in the second quarter worth approximately $42,000. Algert Global LLC purchased a new stake in shares of AXT in the 1st quarter valued at approximately $31,000. Assenagon Asset Management S.A. grew its position in AXT by 12.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 2,540 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. boosted its position in shares of AXT by 2,333,600.0% in the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 23,337 shares of the semiconductor company’s stock worth $105,000 after buying an additional 23,336 shares during the period. Institutional investors own 49.52% of the company’s stock.

AXT Company Profile

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.