AXT (NASDAQ:AXTI) Shares Down 9.3% – Here’s What Happened

AXT Inc (NASDAQ:AXTI) traded down 9.3% on Tuesday . The stock traded as low as $83.02 and last traded at $83.8340. Approximately 1,974,028 shares traded hands during trading, a decline of 81% from the average daily volume of 10,233,282 shares. The stock had previously closed at $92.44.

Analysts Set New Price Targets

A number of analysts recently issued reports on AXTI shares. Northland Securities set a $125.00 price target on AXT in a research report on Wednesday, June 3rd. Weiss Ratings raised shares of AXT from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.80.

AXT Price Performance

The firm has a market capitalization of $5.25 billion, a P/E ratio of -257.88 and a beta of 1.80. The firm has a 50-day moving average price of $97.46 and a two-hundred day moving average price of $53.62.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, April 30th. The semiconductor company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. AXT had a negative net margin of 14.69% and a negative return on equity of 5.71%. The company had revenue of $26.92 million for the quarter, compared to the consensus estimate of $26.22 million. AXT has set its Q2 2026 guidance at 0.060-0.080 EPS. Sell-side analysts predict that AXT Inc will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Morris S. Young sold 123,601 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $113.33, for a total value of $14,007,701.33. Following the completion of the transaction, the chief executive officer directly owned 2,149,533 shares of the company’s stock, valued at approximately $243,606,574.89. The trade was a 5.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David C. Chang sold 8,333 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $111.17, for a total transaction of $926,379.61. Following the sale, the director directly owned 65,165 shares of the company’s stock, valued at approximately $7,244,393.05. The trade was a 11.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 251,636 shares of company stock worth $27,789,677 in the last ninety days. 5.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On AXT

Several hedge funds and other institutional investors have recently modified their holdings of AXTI. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of AXT in the fourth quarter valued at about $22,738,000. Maytree Asset Management Ltd purchased a new stake in AXT in the fourth quarter valued at approximately $11,156,000. Destination Wealth Management purchased a new stake in AXT in the third quarter valued at approximately $458,000. Penn Capital Management Company LLC purchased a new position in AXT during the 3rd quarter worth approximately $729,000. Finally, Allworth Financial LP raised its position in AXT by 3,764.7% during the 4th 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 during the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.