Traders Buy Large Volume of AXT Call Options (NASDAQ:AXTI)

AXT Inc (NASDAQ:AXTI) was the recipient of some unusual options trading on Thursday. Stock traders acquired 7,610 call options on the stock. This is an increase of approximately 149% compared to the typical daily volume of 3,060 call options.

AXT Stock Up 17.8%

Shares of NASDAQ AXTI opened at $24.06 on Friday. AXT has a twelve month low of $1.13 and a twelve month high of $26.66. The firm has a market cap of $1.33 billion, a PE ratio of -46.27 and a beta of 1.96. The business has a fifty day simple moving average of $17.37 and a two-hundred day simple moving average of $9.33.

Insider Buying and Selling at AXT

In other news, CEO Morris S. Young sold 35,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $12.05, for a total value 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. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David C. Chang sold 25,000 shares of the firm’s 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 $1,969,920.96. This trade represents a 15.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 143,130 shares of company stock worth $1,713,221 in the last 90 days. 8.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of AXT in the 4th quarter worth approximately $1,014,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in AXT during the fourth quarter valued at approximately $22,738,000. Allworth Financial LP raised its stake in AXT by 3,764.7% in the fourth quarter. Allworth Financial LP now owns 11,594 shares of the semiconductor company’s stock worth $190,000 after buying an additional 11,294 shares in the last quarter. Maytree Asset Management Ltd bought a new position in AXT in the fourth quarter worth approximately $11,156,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in AXT during the fourth quarter worth $275,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Craig Hallum reissued a “buy” rating on shares of AXT in a research report on Friday, January 9th. Northland Securities set a $20.00 target price on AXT in a research note on Monday, December 22nd. Wall Street Zen lowered AXT from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. B. Riley Financial cut AXT from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $9.00 to $18.00 in a report on Friday, January 9th. Finally, Wedbush set a $7.00 target price on AXT and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.75.

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.