AXT (NASDAQ:AXTI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

AXT Inc (NASDAQ:AXTI) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.06 and traded as high as $11.06. AXT shares last traded at $10.7390, with a volume of 1,869,959 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of AXT from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. B. Riley boosted their price target on shares of AXT from $4.00 to $9.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wedbush set a $7.00 price target on shares of AXT and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of AXT in a research report on Wednesday, October 8th. Finally, Northland Securities set a $10.00 target price on AXT in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, AXT has an average rating of “Moderate Buy” and an average price target of $9.00.

AXT Stock Up 0.4%

The company’s 50-day simple moving average is $7.19 and its 200 day simple moving average is $4.06. The stock has a market capitalization of $500.68 million, a price-to-earnings ratio of -19.53 and a beta of 2.33.

AXT (NASDAQ:AXTI) last released its quarterly earnings results on Thursday, October 30th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.08. The company had revenue of $27.96 million during the quarter, compared to the consensus estimate of $19.85 million. AXT had a negative return on equity of 11.38% and a negative net margin of 27.68%. On average, equities analysts expect that AXT Inc will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David C. Chang sold 100,000 shares of AXT stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $8.94, for a total value of $894,000.00. Following the transaction, the director owned 207,744 shares of the company’s stock, valued at $1,857,231.36. This trade represents a 32.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leonard J. Leblanc sold 3,637 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $8.41, for a total transaction of $30,587.17. Following the completion of the sale, the director owned 118,875 shares of the company’s stock, valued at $999,738.75. The trade was a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 216,767 shares of company stock valued at $1,960,808 over the last 90 days. 8.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. White Pine Capital LLC lifted its position in 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 acquiring an additional 23,467 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of AXT by 75.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock worth $748,000 after purchasing an additional 227,333 shares during the period. Citadel Advisors LLC increased its stake in shares of AXT by 339.6% in the third quarter. Citadel Advisors LLC now owns 405,978 shares of the semiconductor company’s stock worth $1,823,000 after purchasing an additional 313,618 shares during the period. Acadian Asset Management LLC lifted its position in shares of AXT by 2.8% during the 1st 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. Finally, Qube Research & Technologies Ltd boosted its stake in AXT by 39.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 205,822 shares of the semiconductor company’s stock valued at $924,000 after purchasing an additional 58,542 shares during the period. Institutional investors own 49.52% of the company’s stock.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.