AXT INC
In the published model solve dated 2026-Q2, anchored at $38.26, AXT INC (AXTI) is priced for today's economics sustained for ~38.7 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• AXT grows indium phosphide wafers that sit underneath data-centre optics, and the 10-K ties the demand directly: ⟦Data centers use InP devices for high-speed optical data transmission. We believe the growth of AI applications is increasing the need for high-speed data transfer⟧. • The binding constraint is administrative rather than commercial, because shipments out of China need export permits and the company states it ⟦cannot predict when a permit application will be reviewed⟧. • Expansion i
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183 institutional managers reported holding AXTI in 13F filings for the quarter ended 2026-03-31. Together they hold about 61% of the company; the top 10 hold 31%. 98 opened new positions that quarter. Held by Vanguard Group, Jane Street, Morgan Stanley, among others. On the short side, 7.6M shares were sold short as of the 2026-06-15 count, about 14% of shares outstanding (1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
AXTI's share count grew 29.3% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at AXTI over the trailing three years: 2025: 1 buy totaling $41k. 6 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
AXTI's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-10 | -2.3% | -8.3% |
| 2023-11-10 | +16.6% | +32.8% |
| 2024-03-16 | +75.5% | -32.6% |
| 2024-05-11 | +26.6% | +3.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
AXTI's latest 8-K filings: 2026-07-30 (items 2.02, 9.01); 2026-07-29 (items 1.01, 9.01); 2026-07-29 (items 3.03, 5.03, 9.01); 2026-07-22 (items 5.02, 9.01); 2026-07-08 (items 2.04).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.