Bank of America Corp DE Takes Position in AXT Inc $AXTI

Key Points

• Bank of America initiated a position in AXT, buying 639,037 shares worth approximately $46.1 million, representing about 0.98% of the semiconductor company. Institutional investors collectively own 49.52% of AXT.
• Analyst sentiment is generally positive: AXT has a “Moderate Buy” consensus rating and an average price target of $77, with recent upgrades from Needham and Zacks Research but a downgrade from B. Riley.
• AXT exceeded quarterly expectations, reporting $0.19 EPS versus a $0.07 estimate and $47.59 million in revenue versus $34.08 million expected. However, director Leonard Leblanc sold 4,000 shares at an average price of $96.07.

Bank of America Corp DE purchased a new position in shares of AXT Inc (NASDAQ:AXTI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 639,037 shares of the semiconductor company's stock, valued at approximately $46,062,000. Bank of America Corp DE owned about 0.98% of AXT as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AXTI. American Capital Advisory LLC acquired a new stake in AXT in the 1st quarter worth about $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in AXT in the 1st quarter valued at $31,000. Global Retirement Partners LLC purchased a new position in AXT in the 2nd quarter valued at $55,000. Leonteq Securities AG purchased a new position in AXT in the 1st quarter valued at $57,000. Finally, Tema ETFs LLC acquired a new stake in AXT during the 2nd quarter worth $105,000. Institutional investors and hedge funds own 49.52% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AXTI shares. Needham & Company LLC raised shares of AXT from a "hold" rating to a "buy" rating and set a $90.00 target price 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. B. Riley Financial lowered their target price on AXT from $73.00 to $52.00 and set a "neutral" rating on the stock in a report on Tuesday, July 28th. Weiss Ratings upgraded AXT from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. Finally, Zacks Research raised AXT from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.00.

Insider Buying and Selling at AXT

In other news, Director Leonard Leblanc sold 4,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $96.07, for a total value of $384,280.00. Following the sale, the director directly owned 113,129 shares in the company, valued at approximately $10,868,303.03. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.97% of the company's stock.

AXT Stock Performance

AXT stock opened at $79.93 on Tuesday. The company's 50 day simple moving average is $63.69 and its 200-day simple moving average is $73.19. AXT Inc has a 1 year low of $4.00 and a 1 year high of $143.16. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 3,996.50 and a beta of 1.92.

AXT (NASDAQ:AXTI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.12. The firm had revenue of $47.59 million during the quarter, compared to analysts' expectations of $34.08 million. AXT had a net margin of 3.23% and a return on equity of 0.96%. AXT has set its Q3 2026 guidance at 0.300-0.320 EPS. Equities analysts expect that AXT Inc will post 0.8 earnings per share for the current year.

About AXT

AXT, Inc NASDAQ: AXTI develops and manufactures compound semiconductor substrates used to produce high-performance electronic and optoelectronic devices. Its product portfolio includes gallium arsenide (GaAs), indium phosphide (InP), and germanium substrates, along with related materials and services supporting semiconductor manufacturing.

The company's substrates are used in applications such as wireless communications, fiber-optic and data-center networking, optical sensing, laser devices, aerospace and defense systems, and solar cells.

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