Insider Selling: AXT Inc (AXTI) VP Sells 7,500 Shares of Stock
AXT Inc (NASDAQ:AXTI) VP Robert G. Ochrym sold 7,500 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $6.93, for a total value of $51,975.00. Following the completion of the sale, the vice president now owns 39,000 shares of the company’s stock, valued at approximately $270,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of AXT Inc (NASDAQ:AXTI) traded up 1.49% during midday trading on Thursday, hitting $6.80. The company’s stock had a trading volume of 245,293 shares. The company has a 50-day moving average price of $6.55 and a 200 day moving average price of $5.94. The company has a market cap of $260.14 million, a P/E ratio of 36.56 and a beta of 1.25. AXT Inc has a 1-year low of $2.95 and a 1-year high of $8.65.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, April 26th. The semiconductor company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $20.60 million during the quarter, compared to analyst estimates of $18.45 million. AXT had a return on equity of 1.62% and a net margin of 2.75%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that AXT Inc will post $0.19 EPS for the current year.
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Hedge funds have recently modified their holdings of the company. Gotham Asset Management LLC acquired a new position in shares of AXT during the first quarter worth $101,000. SG Americas Securities LLC purchased a new position in AXT during the first quarter valued at approximately $105,000. Sanctuary Wealth Advisors LLC purchased a new position in AXT during the first quarter valued at approximately $116,000. Dynamic Technology Lab Private Ltd purchased a new position in AXT during the fourth quarter valued at approximately $104,000. Finally, A.R.T. Advisors LLC purchased a new position in AXT during the fourth quarter valued at approximately $108,000. 46.97% of the stock is owned by hedge funds and other institutional investors.
AXTI has been the subject of several recent analyst reports. Zacks Investment Research upgraded AXT from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Tuesday. B. Riley restated a “neutral” rating and issued a $7.00 price target on shares of AXT in a report on Monday, May 1st. Needham & Company LLC increased their price target on AXT from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, BWS Financial initiated coverage on AXT in a report on Tuesday, April 11th. They issued a “buy” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.13.
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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