AXT (NASDAQ:AXTI) Reaches New 52-Week High - What's Next?

Key Points

• AXT hit a new 52-week high, trading as high as $82.19 on heavy volume (about 16.8M shares) and well above its 50‑day ($45.24) and 200‑day ($23.87) moving averages, after closing previously at $62.93.
• Analysts are still mixed and cautious — the consensus rating is a "Hold" with an average price target of about $22.80 — while the company reports negative EPS, missed the most recent quarter, and shows negative net margin and return on equity.
• Insiders have been net sellers recently (502,278 shares worth roughly $21.2M over three months, including a large CEO sale), even as institutional ownership is high (about 49.5%) with several funds adding or increasing stakes.

Shares of AXT Inc (NASDAQ:AXTI - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $82.19 and last traded at $81.78, with a volume of 16770532 shares. The stock had previously closed at $62.93.

Analysts Set New Price Targets

AXTI has been the subject of several research analyst reports. Northland Securities set a $20.00 price target on AXT in a research note on Monday, December 22nd. Needham & Company LLC lowered AXT from a "buy" rating to a "hold" rating in a research note on Tuesday, January 20th. Craig Hallum reaffirmed a "buy" rating on shares of AXT in a research note on Friday, January 9th. Wall Street Zen raised AXT from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Finally, Wedbush lifted their price target on AXT from $8.50 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.80.

AXT Price Performance

The stock has a market capitalization of $4.55 billion, a PE ratio of -170.37 and a beta of 1.51. The company has a 50 day moving average price of $45.24 and a 200-day moving average price of $23.87.

AXT (NASDAQ:AXTI - Get Free Report) last posted its earnings results on Thursday, February 19th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). AXT had a negative net margin of 24.07% and a negative return on equity of 9.50%. The business had revenue of $23.04 million for the quarter, compared to analysts' expectations of $24.24 million. As a group, equities analysts anticipate that AXT Inc will post -0.12 earnings per share for the current year.

Insider Activity

In other news, CEO Morris S. Young sold 159,536 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $43.32, for a total transaction of $6,911,099.52. Following the transaction, the chief executive officer directly owned 2,482,038 shares of the company's stock, valued at approximately $107,521,886.16. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David C. Chang sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $38.53, for a total value of $770,600.00. Following the transaction, the director directly owned 112,744 shares in the company, valued at $4,344,026.32. This trade represents a 15.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 502,278 shares of company stock valued at $21,196,754. Company insiders own 5.97% of the company's stock.

Institutional Investors Weigh In On AXT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in AXT in the fourth quarter worth $22,738,000. Alyeska Investment Group L.P. purchased a new stake in AXT in the fourth quarter worth $20,187,000. Jane Street Group LLC grew its stake in AXT by 1,314.6% in the fourth quarter. Jane Street Group LLC now owns 904,599 shares of the semiconductor company's stock worth $14,790,000 after purchasing an additional 840,650 shares during the period. Maytree Asset Management Ltd purchased a new stake in AXT in the fourth quarter worth $11,156,000. Finally, Assenagon Asset Management S.A. grew its stake in AXT by 2,404.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 574,828 shares of the semiconductor company's stock worth $9,398,000 after purchasing an additional 551,876 shares during the period. 49.52% of the stock is owned by hedge funds and other institutional investors.

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.

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