Morris Young Sells 80,000 Shares of AXT (NASDAQ:AXTI) Stock

AXT Inc (NASDAQ:AXTI) CEO Morris Young sold 80,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $8.65, for a total transaction of $692,000.00. Following the transaction, the chief executive officer owned 2,439,490 shares in the company, valued at approximately $21,101,588.50. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

AXT Trading Up 6.6%

Shares of AXTI opened at $9.10 on Thursday. The company has a market cap of $419.74 million, a price-to-earnings ratio of -16.55 and a beta of 2.33. AXT Inc has a 1-year low of $1.13 and a 1-year high of $9.84. The company’s fifty day simple moving average is $4.84 and its 200 day simple moving average is $2.95.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On AXT

Several institutional investors and hedge funds have recently modified their holdings of AXTI. Jacobs Levy Equity Management Inc. boosted its position 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 valued at $748,000 after acquiring an additional 227,333 shares during the period. GSA Capital Partners LLP boosted its position in shares of AXT by 43.2% in the first quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company’s stock valued at $752,000 after acquiring an additional 160,858 shares during the period. Creative Planning bought a new stake in shares of AXT in the second quarter valued at about $86,000. White Pine Capital LLC boosted its position in shares of AXT by 2.8% in 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 period. Finally, Algert Global LLC bought a new stake in shares of AXT in the first quarter valued at about $31,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

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.