B. Riley Financial lowered its price target for AXT Inc. to $52.00. This represents a significant decrease from the previous target of $73.00. The firm maintained a neutral rating on the semiconductor company's stock. This new target still suggests potential upside from current price levels. Analysts cited high valuation following significant share price gains over the past year as the reason for the cut.
Rokos Capital Management recently acquired a new stake of 330,788 shares. Conversely, company insiders sold 251,636 shares during the last quarter. These insider transactions totaled approximately $27.8 million. The overall market consensus for AXT remains a Hold rating.