Brokerages Set AXT Inc (NASDAQ:AXTI) Target Price at $13.75

Shares of AXT Inc (NASDAQ:AXTI) have received a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.75.

Several equities analysts have issued reports on AXTI shares. Needham & Company LLC lowered shares of AXT from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Wall Street Zen downgraded AXT from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Craig Hallum restated a “buy” rating on shares of AXT in a research note on Friday, January 9th. Northland Securities set a $20.00 price objective on shares of AXT in a report on Monday, December 22nd. Finally, B. Riley Financial cut shares of AXT from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $9.00 to $18.00 in a research note on Friday, January 9th.

AXT Stock Performance

AXTI stock opened at $27.77 on Tuesday. AXT has a one year low of $1.13 and a one year high of $28.42. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -53.40 and a beta of 1.96. The firm has a 50-day simple moving average of $17.71 and a two-hundred day simple moving average of $9.60.

Insider Buying and Selling at AXT

In other AXT news, Director David C. Chang sold 25,000 shares of AXT stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $14.84, for a total transaction of $371,000.00. Following the completion of the sale, the director owned 132,744 shares of the company’s stock, valued at approximately $1,969,920.96. The trade was a 15.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Morris S. Young sold 35,000 shares of AXT stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $12.05, for a total transaction of $421,750.00. Following the sale, the chief executive officer owned 2,495,564 shares of the company’s stock, valued at approximately $30,071,546.20. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 143,130 shares of company stock valued at $1,713,221 over the last quarter. Insiders own 8.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in AXT in the 2nd quarter worth approximately $42,000. Jefferies Financial Group Inc. acquired a new position in shares of AXT in the 3rd quarter valued at $52,000. Creative Planning acquired a new position in shares of AXT in the 2nd quarter valued at $86,000. Assenagon Asset Management S.A. boosted its holdings in AXT by 12.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after buying an additional 2,540 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. grew its position in AXT by 2,333,600.0% during the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 23,337 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 23,336 shares during the period. 49.52% of the stock is owned by institutional investors and hedge funds.

AXT Company Profile

AXT, Inc (NASDAQ: AXTI) is a global supplier of compound and single-element semiconductor substrates, offering a range of materials critical for high-performance electronic and optoelectronic devices. Founded in 1986 and headquartered in Fremont, California, AXT specializes in the development, manufacture and distribution of wafers composed of gallium arsenide (GaAs), indium phosphide (InP), gallium nitride (GaN) and other compound semiconductor materials. These substrates serve as the foundational platforms for devices used in data communications, wireless infrastructure, advanced computing, consumer electronics and photovoltaic applications.

AXT’s product portfolio encompasses a variety of wafer sizes, dopant concentrations and crystal orientations, tailored to meet the precise specifications of its customers.