Insider Selling: AXT (NASDAQ:AXTI) Director Sells 3,637 Shares of Stock

AXT Inc (NASDAQ:AXTI) Director Leonard Leblanc sold 3,637 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $8.41, for a total value of $30,587.17. Following the transaction, the director directly owned 118,875 shares in the company, valued at approximately $999,738.75. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

AXT Stock Performance

AXTI traded up $0.98 during midday trading on Monday, hitting $10.44. The stock had a trading volume of 5,798,577 shares, compared to its average volume of 964,489. AXT Inc has a 1 year low of $1.13 and a 1 year high of $10.55. The business has a fifty day moving average of $5.09 and a 200 day moving average of $3.07. The company has a market cap of $481.55 million, a P/E ratio of -18.98 and a beta of 2.33.

Analyst Ratings Changes

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

Institutional Trading of AXT

Several large investors have recently bought and sold shares of AXTI. XTX Topco Ltd purchased a new position in shares of AXT during the 2nd quarter worth approximately $42,000. Algert Global LLC purchased a new position in AXT during the first quarter valued at $31,000. Assenagon Asset Management S.A. grew its position in shares of AXT by 12.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after buying an additional 2,540 shares during the period. Wesbanco Bank Inc. purchased a new position in AXT during the 3rd quarter valued at about $112,000. Finally, Atlas Brown Inc. boosted its stake in AXT by 100.0% during the second quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 19,575 shares in the last quarter. 49.52% of the stock is owned by institutional investors.

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.