AXT Inc $AXTI Shares Bought by Bank of America Corp DE

Key Points

• Bank of America more than doubled its AXT position in the first quarter, buying 410,181 additional shares to reach 776,300 shares valued at approximately $44.2 million. Institutional investors collectively own 49.52% of the company.
• Analyst sentiment remains mixed: AXT has a consensus “Hold” rating and a $77 target price, with individual targets ranging from $52 to $125.
• AXT beat quarterly expectations, reporting $0.19 in EPS versus $0.07 expected and $47.59 million in revenue versus $34.08 million forecast. However, company insiders sold roughly $27.8 million of stock over the past three months.

Bank of America Corp DE boosted its position in shares of AXT Inc (NASDAQ:AXTI - Free Report) by 112.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 776,300 shares of the semiconductor company's stock after buying an additional 410,181 shares during the period. Bank of America Corp DE owned 1.19% of AXT worth $44,234,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of AXT during the 4th quarter worth about $22,738,000. Maytree Asset Management Ltd bought a new stake in AXT in the fourth quarter valued at about $11,156,000. California State Teachers Retirement System acquired a new position in AXT in the first quarter worth about $3,670,000. Janus Henderson Group PLC bought a new position in AXT during the first quarter worth about $1,395,000. Finally, Allworth Financial LP boosted its holdings in AXT by 3,764.7% during the fourth quarter. Allworth Financial LP now owns 11,594 shares of the semiconductor company's stock valued at $190,000 after purchasing an additional 11,294 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company's stock.

Wall Street Analysts Forecast Growth

AXTI has been the topic of several recent analyst reports. B. Riley Financial decreased their price target on AXT from $73.00 to $52.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 28th. Needham & Company LLC raised AXT from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Friday, July 31st. UBS Group set a $90.00 target price 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 report on Wednesday, May 27th. Finally, Northland Securities set a $125.00 target price on shares of AXT in a research report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AXT has a consensus rating of "Hold" and a consensus target price of $77.00.

Insiders Place Their Bets

In other news, Director Jesse Chen sold 6,172 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $115.24, for a total transaction of $711,261.28. Following the completion of the sale, the director owned 50,275 shares of the company's stock, valued at $5,793,691. This represents a 10.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Morris S. Young sold 123,601 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $113.33, for a total value of $14,007,701.33. Following the transaction, the chief executive officer owned 2,149,533 shares of the company's stock, valued at approximately $243,606,574.89. This trade represents a 5.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 251,636 shares of company stock worth $27,789,677. Company insiders own 5.97% of the company's stock.

AXT Stock Up 6.4%

AXTI stock opened at $78.47 on Thursday. The company has a market cap of $5.13 billion, a P/E ratio of 3,923.50 and a beta of 1.90. AXT Inc has a twelve month low of $2.05 and a twelve month high of $143.16. The business has a fifty day moving average of $68.83 and a 200-day moving average of $64.97.

AXT (NASDAQ:AXTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.12. The company had revenue of $47.59 million for the quarter, compared to analyst estimates of $34.08 million. AXT had a net margin of 3.23% and a return on equity of 1.55%. AXT has set its Q3 2026 guidance at 0.300-0.320 EPS. As a group, equities research analysts anticipate that AXT Inc will post 0.8 earnings per share for the current fiscal year.

AXT 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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