AXT (NASDAQ:AXTI) Raised to Hold at Wall Street Zen

AXT (NASDAQ:AXTI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also weighed in on the company. Wedbush set a $7.00 price objective on AXT and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Craig Hallum reissued a “buy” rating on shares of AXT in a research note on Friday, January 9th. B. Riley Financial downgraded AXT from a “buy” rating to a “neutral” rating and raised their price target for the company from $9.00 to $18.00 in a report on Friday, January 9th. Needham & Company LLC cut shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Northland Securities set a $20.00 price objective on shares of AXT in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.75.

AXT Stock Performance

Shares of NASDAQ AXTI opened at $24.24 on Friday. AXT has a fifty-two week low of $1.13 and a fifty-two week high of $28.65. The company has a 50 day simple moving average of $18.78 and a two-hundred day simple moving average of $10.13. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -46.62 and a beta of 1.96.

Insiders Place Their Bets

In related news, Director David C. Chang sold 25,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $14.84, for a total transaction of $371,000.00. Following 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Morris S. Young sold 35,000 shares of AXT stock in a transaction dated 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 owned 2,495,564 shares of the company’s stock, valued at $30,071,546.20. The trade was a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 143,130 shares of company stock worth $1,713,221. Corporate insiders own 8.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Wesbanco Bank Inc. purchased a new position in shares of AXT in the 3rd quarter worth $112,000. White Pine Capital LLC increased its position in AXT by 2.8% during the second quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock valued at $1,798,000 after acquiring an additional 23,467 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in AXT by 216.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 269,411 shares of the semiconductor company’s stock valued at $4,405,000 after acquiring an additional 184,309 shares during the period. Geode Capital Management LLC boosted its position in AXT by 10.0% in the fourth quarter. Geode Capital Management LLC now owns 492,330 shares of the semiconductor company’s stock worth $8,054,000 after purchasing an additional 44,632 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in AXT by 39.7% in the third quarter. Qube Research & Technologies Ltd now owns 205,822 shares of the semiconductor company’s stock worth $924,000 after purchasing an additional 58,542 shares during the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.