Director stock sales
AXT Inc. (NASDAQ:AXTI) reported that director Chen Jesse sold a total of 29,000 shares of common stock over two trading days, March 10 and March 11, 2026, generating proceeds of approximately $1.35 million. The company noted the trades occurred while the stock was trading at $49.43, described in reports as just 1% below its 52-week high of $47.94.
The transactions were executed in two separate tranches. On March 10, Chen sold 14,000 shares at a weighted average price of $46.1504, with individual trade prices ranging from $45.60 to $46.63. The following day, March 11, Chen sold 15,000 shares at a weighted average price of $47.1294, with trade prices in a range from $46.83 to $47.68. After these dispositions, Chen retained direct ownership of 123,612 shares of AXT common stock.
Company guidance revision
In related corporate news, AXT revised its fourth-quarter revenue outlook downward to a range between $22.5 million and $23.5 million. This is a reduction from the company's prior forecast of $27 million to $30 million. The company attributed the revision to fewer export permits for indium phosphide substrates issued by the Chinese government, a factor the company said affected its ability to meet customer demand.
Analyst responses and industry context
Analysts have reacted differently to AXT's updated guidance and market position. Craig-Hallum raised its price target for AXT to $26.00, citing a strong demand outlook and the potential for competitor constraints. By contrast, B. Riley moved to downgrade AXT from Buy to Neutral, explicitly pointing to valuation concerns as the reason for the change.
Other analyst activity noted alongside AXT-related coverage includes Needham's upgrade of Nova Measuring Instruments to Buy, with Needham highlighting that companys global execution and potential benefits from Chinas memory wafer fabrication equipment market in 2026. Needham also upgraded Ichor Holdings to Buy, framing it as a derivative play linked to larger semiconductor equipment manufacturers such as Lam Research and Applied Materials. These analyst moves were presented as illustrating divergent views across the semiconductor supply chain and equipment segments.
Takeaway
The combination of insider selling, a downward revision to quarterly revenue expectations tied to export-permit constraints, and contrasting analyst actions underscores a mixed near-term picture for AXT. The company-provided explanation for the guidance change points directly to export permitting for indium phosphide substrates as the operational constraint affecting revenue. At the same time, analyst responses vary from a higher price target based on demand and competitive dynamics to a more cautious stance focused on valuation.
This report presents the transaction details, the company guidance adjustment, and the contemporaneous analyst commentary as disclosed. Where information is limited, the account reflects those limits rather than expanding beyond the disclosures provided.