AXT Inc. (AXTI) CEO Morris S. Young Sells 45,068 Shares of Stock
AXT Inc. (NASDAQ:AXTI) CEO Morris S. Young sold 45,068 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $5.12, for a total value of $230,748.16. Following the completion of the sale, the chief executive officer now owns 1,139,504 shares in the company, valued at $5,834,260.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Morris S. Young also recently made the following trade(s):
- On Tuesday, November 22nd, Morris S. Young sold 3,522 shares of AXT stock. The stock was sold at an average price of $5.20, for a total value of $18,314.40.
AXT Inc. (NASDAQ:AXTI) opened at 4.95 on Wednesday. The stock has a market capitalization of $159.43 million, a P/E ratio of 81.15 and a beta of 1.42. The stock has a 50 day moving average price of $5.26 and a 200-day moving average price of $4.25. AXT Inc. has a one year low of $2.28 and a one year high of $5.97.
AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, October 26th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The business had revenue of $21.90 million for the quarter, compared to analysts’ expectations of $12.52 billion. AXT had a return on equity of 1.62% and a net margin of 2.75%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. Analysts anticipate that AXT Inc. will post $0.14 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. bought a new position in shares of AXT during the third quarter valued at $120,000. KCG Holdings Inc. boosted its position in AXT by 67.7% in the third quarter. KCG Holdings Inc. now owns 42,484 shares of the company’s stock worth $220,000 after buying an additional 17,151 shares in the last quarter. Morgan Stanley boosted its position in AXT by 127.1% in the third quarter. Morgan Stanley now owns 65,283 shares of the company’s stock worth $339,000 after buying an additional 36,542 shares in the last quarter. ClariVest Asset Management LLC boosted its position in AXT by 43.4% in the third quarter. ClariVest Asset Management LLC now owns 369,640 shares of the company’s stock worth $1,918,000 after buying an additional 111,959 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in AXT during the third quarter worth approximately $983,000. Institutional investors and hedge funds own 45.45% of the company’s stock.
Several research analysts have commented on the company. B. Riley restated a “buy” rating and set a $6.75 price objective on shares of AXT in a report on Tuesday, November 1st. Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Needham & Company LLC raised their price objective on AXT from $5.50 to $6.50 and gave the stock a “buy” rating in a report on Thursday, October 27th. Finally, Northland Securities raised their price objective on AXT from $4.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, September 29th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. AXT currently has an average rating of “Buy” and a consensus target price of $6.19.
AXT Company Profile
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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