AXT Inc (NASDAQ:AXTI) Given Consensus Recommendation of “Hold” by Brokerages

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

Several research analysts recently commented on AXTI shares. B. Riley downgraded AXT from a “buy” rating to a “neutral” rating and increased their price objective for the company from $9.00 to $18.00 in a research note on Friday, January 9th. Craig Hallum reiterated a “buy” rating on shares of AXT in a research report on Friday, January 9th. Needham & Company LLC downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AXT in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of AXT from a “hold” rating to a “sell” rating in a report on Saturday, January 17th.

AXT Price Performance

Shares of AXT stock opened at $20.94 on Tuesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -40.27 and a beta of 1.96. The business has a 50 day simple moving average of $16.53 and a two-hundred day simple moving average of $8.91. AXT has a 12 month low of $1.13 and a 12 month high of $26.66.

Insider Activity at AXT

In other AXT news, CEO Morris S. Young sold 35,000 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $12.05, for a total value of $421,750.00. Following the completion of the sale, the chief executive officer directly owned 2,495,564 shares in the company, valued at $30,071,546.20. This represents a 1.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David C. Chang sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $14.84, for a total value of $371,000.00. Following the completion of the sale, the director directly owned 132,744 shares of the company’s stock, valued at $1,969,920.96. This trade represents a 15.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 246,767 shares of company stock valued at $2,637,808. 8.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AXT

A number of hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC increased its position in AXT by 2.8% during the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after purchasing an additional 8,039 shares during the last quarter. Creative Planning purchased a new stake in shares of AXT in the 2nd quarter valued at approximately $86,000. White Pine Capital LLC increased its holdings in shares of AXT by 2.8% during the 2nd quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock worth $1,798,000 after buying an additional 23,467 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of AXT during the 2nd quarter worth approximately $42,000. Finally, Assenagon Asset Management S.A. raised its position in shares of AXT by 12.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 2,540 shares during the period. Hedge funds and other institutional investors own 49.52% of the company’s stock.

About AXT

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.