Assenagon Asset Management S.A. Cuts Stock Holdings in AXT Inc $AXTI

Key Points

• Assenagon Asset Management cut its AXT stake by 32% in the second quarter, selling 482,366 shares and retaining 1,022,988 shares valued at approximately $73.7 million. Institutional investors collectively own 49.52% of AXT.
• AXT reported quarterly earnings of $0.19 per share and revenue of $47.59 million, beating analyst estimates of $0.07 per share and $34.08 million, respectively. The company provided third-quarter 2026 EPS guidance of $0.30–$0.32.
• AXT shares opened at $88.58, up 17.8%, while analyst sentiment remained mixed: three analysts rated the stock Buy, one Hold and one Sell, producing an average rating of Hold and a $77 price target. Company insiders have sold roughly $27.8 million of stock over the past 90 days.

Assenagon Asset Management S.A. lessened its stake in shares of AXT Inc (NASDAQ:AXTI - Free Report) by 32.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,022,988 shares of the semiconductor company's stock after selling 482,366 shares during the period. Assenagon Asset Management S.A. owned 1.56% of AXT worth $73,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of AXTI. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in AXT during the fourth quarter valued at approximately $22,738,000. Alyeska Investment Group L.P. purchased a new position in shares of AXT during the 4th quarter worth about $20,187,000. Jane Street Group LLC grew its holdings in AXT by 1,314.6% during the 4th quarter. Jane Street Group LLC now owns 904,599 shares of the semiconductor company's stock valued at $14,790,000 after purchasing an additional 840,650 shares during the last quarter. Bank of America Corp DE grew its holdings in AXT by 112.0% during the 1st quarter. Bank of America Corp DE now owns 776,300 shares of the semiconductor company's stock valued at $44,234,000 after purchasing an additional 410,181 shares during the last quarter. Finally, Ariose Capital Management Ltd bought a new stake in AXT in the first quarter worth about $39,061,000. Institutional investors own 49.52% of the company's stock.

AXT Stock Up 17.8%

AXTI stock opened at $88.58 on Friday. The firm has a 50 day moving average of $70.85 and a 200 day moving average of $63.50. The stock has a market capitalization of $5.80 billion, a PE ratio of 4,429.00 and a beta of 1.90. AXT Inc has a 52 week low of $2.05 and a 52 week high of $143.16.

AXT (NASDAQ:AXTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.12. The company had revenue of $47.59 million during the quarter, compared to analysts' expectations of $34.08 million. AXT had a return on equity of 1.55% and a net margin of 3.23%.AXT has set its Q3 2026 guidance at 0.300-0.320 EPS. On average, equities research analysts expect that AXT Inc will post 0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AXTI. Needham & Company LLC raised AXT from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research note on Friday, July 31st. Northland Securities set a $125.00 target price on shares of AXT in a research note on Wednesday, June 3rd. UBS Group set a $90.00 price objective on shares of AXT in a research note on Friday, July 31st. Weiss Ratings raised shares of AXT from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 27th. Finally, B. Riley Financial lowered their price target on shares of AXT from $73.00 to $52.00 and set a "neutral" rating for the company in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $77.00.

Insider Transactions at AXT

In related news, Director Jesse Chen sold 6,172 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $115.24, for a total transaction of $711,261.28. Following the completion of the sale, the director directly owned 50,275 shares in the company, valued at approximately $5,793,691. The trade was a 10.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Morris S. Young sold 123,601 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $113.33, for a total transaction of $14,007,701.33. Following the sale, the chief executive officer directly owned 2,149,533 shares of the company's stock, valued at approximately $243,606,574.89. This represents a 5.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 251,636 shares of company stock valued at $27,789,677 over the last ninety days. Insiders own 5.97% of the company's stock.

About AXT

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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