BlackRock significantly increased its investment in semiconductor materials firm AXT Inc. The asset manager purchased 3,533,591 shares on June 30, 2026. Shares were acquired at $72.08 each.
Total holdings now reach 4,653,059 shares. This position represents a 7.10% stake in the firm.
The acquisition price exceeds the $60.35 closing price on August 1, 2026. This investment follows a period of volatile trading for AXT.
The increased position suggests a positive long-term outlook. This outlook persists despite metrics indicating the stock is significantly overvalued.