Traders Purchase High Volume of Call Options on AXT (NASDAQ:AXTI)

AXT Inc (NASDAQ:AXTI) was the recipient of some unusual options trading activity on Thursday. Investors bought 7,610 call options on the company. This is an increase of 149% compared to the average volume of 3,060 call options.

AXT Stock Down 4.8%

AXTI traded down $0.90 during midday trading on Thursday, hitting $17.85. The company had a trading volume of 1,732,770 shares, compared to its average volume of 7,698,693. The stock’s 50 day moving average price is $16.90 and its 200 day moving average price is $9.10. AXT has a 52 week low of $1.13 and a 52 week high of $26.66. The company has a market capitalization of $986.86 million, a price-to-earnings ratio of -34.31 and a beta of 1.96.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AXTI shares. B. Riley cut shares of AXT from a “buy” rating to a “neutral” rating and boosted their target price for the company from $9.00 to $18.00 in a research report on Friday, January 9th. Needham & Company LLC lowered AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Northland Securities set a $20.00 target price on AXT in a research report on Monday, December 22nd. Craig Hallum restated a “buy” rating on shares of AXT in a report on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AXT in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.75.

Insider Buying and Selling

In related news, Director David C. Chang sold 25,000 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.84, for a total transaction of $371,000.00. Following the completion of the sale, the director owned 132,744 shares in the company, valued at $1,969,920.96. This trade represents a 15.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Morris S. Young sold 35,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $12.05, for a total value of $421,750.00. Following the completion of the sale, the chief executive officer owned 2,495,564 shares of the company’s stock, valued at approximately $30,071,546.20. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 146,767 shares of company stock worth $1,743,808. Corporate insiders own 8.80% of the company’s stock.

Hedge Funds Weigh In On AXT

A number of institutional investors have recently made changes to their positions in AXTI. Assenagon Asset Management S.A. grew its holdings in AXT by 12.4% in the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 2,540 shares during the period. Algert Global LLC boosted its position in shares of AXT by 31.9% in the 3rd quarter. Algert Global LLC now owns 28,800 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 6,970 shares in the last quarter. Acadian Asset Management LLC increased its position in AXT by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock valued at $412,000 after buying an additional 8,039 shares in the last quarter. Allworth Financial LP increased 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 valued at $190,000 after buying an additional 11,294 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in AXT during the third quarter valued at $52,000. Institutional investors own 49.52% of the company’s stock.

AXT Company Profile

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.