Bank of New York Mellon Corp Takes Position in AXT Inc $AXTI

Key Points

• Bank of New York Mellon acquired 195,558 AXT shares during the second quarter, worth approximately $14.1 million and representing about 0.30% of the company. Institutional investors collectively own 49.52% of AXT.
• Analyst sentiment is generally positive, with AXT carrying a consensus “Moderate Buy” rating and an average price target of $77, although price targets range widely from $52 to $125.
• AXT reported quarterly earnings of $0.19 per share and revenue of $47.59 million, beating analyst estimates of $0.07 EPS and $34.08 million revenue. The stock opened at $56.11, down 7.4%, while insiders have sold $5.64 million of shares over the past 90 days.

Bank of New York Mellon Corp acquired a new position in shares of AXT Inc (NASDAQ:AXTI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 195,558 shares of the semiconductor company's stock, valued at approximately $14,096,000. Bank of New York Mellon Corp owned about 0.30% of AXT at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AXTI. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of AXT during the fourth quarter valued at $22,738,000. California State Teachers Retirement System bought a new position in shares of AXT in the 1st quarter valued at about $3,670,000. Maytree Asset Management Ltd acquired a new stake in shares of AXT during the 4th quarter worth approximately $11,156,000. Bank of America Corp DE lifted its holdings in AXT by 112.0% in the first quarter. Bank of America Corp DE now owns 776,300 shares of the semiconductor company's stock valued at $44,234,000 after buying an additional 410,181 shares during the period. Finally, Janus Henderson Group PLC bought a new position in AXT in the first quarter valued at approximately $1,395,000. Institutional investors own 49.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. B. Riley Financial cut their price target on shares of AXT from $73.00 to $52.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 28th. Needham & Company LLC raised shares of AXT from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a report on Friday, July 31st. Zacks Research upgraded AXT from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Northland Securities set a $125.00 price target on AXT in a report on Wednesday, June 3rd. Finally, UBS Group set a $90.00 price objective on AXT in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $77.00.

AXT Stock Down 7.4%

NASDAQ:AXTI opened at $56.11 on Wednesday. AXT Inc has a twelve month low of $2.83 and a twelve month high of $143.16. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 2,805.50 and a beta of 1.92. The stock's 50 day moving average price is $63.32 and its two-hundred day moving average price is $69.95.

AXT (NASDAQ:AXTI - Get Free Report) last issued its earnings results 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. AXT had a net margin of 3.23% and a return on equity of 0.96%. The business had revenue of $47.59 million for the quarter, compared to the consensus estimate of $34.08 million. AXT has set its Q3 2026 guidance at 0.300-0.320 EPS. As a group, analysts anticipate that AXT Inc will post 0.8 earnings per share for the current year.

Insider Transactions at AXT

In other AXT news, Director David C. Chang sold 8,333 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $111.17, for a total transaction of $926,379.61. Following the transaction, the director owned 65,165 shares in the company, valued at $7,244,393.05. This represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leonard J. Leblanc sold 4,000 shares of the firm's 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 transaction, the director owned 113,129 shares in the company, valued at approximately $10,868,303.03. This trade represents a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 56,638 shares of company stock valued at $5,636,947. 5.97% of the stock is currently owned by corporate insiders.

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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