🔴 AXT is trading 8.75% down today amid a broad semiconductor rout and a B. Riley price target cut

AXT is trading at $39.11 (-8.75%) following a sharp selloff driven by a broader semiconductor downturn and a significant price target reduction.

• The move aligns with a major rout in the semiconductor sector, with the SOXX ETF dropping 8.71% as chip stocks face pressure from earnings disappointments and concerns over competition in China.
• B. Riley lowered its price target on the stock from $73 to $52 while maintaining a neutral rating, adding to the downward pressure on the already volatile shares.