🔴 AXT is trading 4.3% down today after B. Riley price target cut and semiconductor sector pressure

AXT is trading 4.3% down at $40.93 following a significant price target reduction and broader weakness across the semiconductor sector.

• B. Riley lowered its price target on the stock from $73 to $52, maintaining a neutral rating while citing concerns over a sharp valuation reset.
• Shares are facing additional downside pressure as semiconductor stocks slide broadly on fears regarding AI spending sustainability and intensifying competition from Chinese chipmakers.