David Chang Sells 25,000 Shares of AXT (NASDAQ:AXTI) Stock

by · The Cerbat Gem

AXT Inc (NASDAQ:AXTI – Get Free Report) Director David Chang sold 25,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $12.33, for a total transaction of $308,250.00. Following the completion of the sale, the director directly owned 157,744 shares in the company, valued at approximately $1,944,983.52. This trade represents a 13.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AXT Trading Up 9.1%

AXT stock traded up $0.98 during midday trading on Tuesday, reaching $11.76. 6,226,179 shares of the stock traded hands, compared to its average volume of 3,247,720. AXT Inc has a fifty-two week low of $1.13 and a fifty-two week high of $12.64. The firm has a fifty day moving average price of $7.19 and a two-hundred day moving average price of $4.06.

AXT (NASDAQ:AXTI – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The semiconductor company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The company had revenue of $27.96 million for the quarter, compared to analysts’ expectations of $19.85 million. AXT had a negative return on equity of 11.19% and a negative net margin of 25.22%. Sell-side analysts expect that AXT Inc will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on AXT

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Algert Global LLC bought a new stake in shares of AXT during the 1st quarter worth $31,000. XTX Topco Ltd purchased a new stake in shares of AXT during the second quarter valued at $42,000. Jefferies Financial Group Inc. purchased a new stake in shares of AXT during the third quarter valued at $52,000. Atlas Brown Inc. boosted its position in shares of AXT by 100.0% in the 2nd quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 19,575 shares during the period. Finally, Creative Planning purchased a new position in AXT in the 2nd quarter worth about $86,000. Institutional investors own 49.52% of the company’s stock.

AXT Company Profile

(Get Free Report)

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.

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