Semiconductor co AXT drops on announcing stock offering

AXT

20/04/2026 21:37

** Semiconductor parts maker AXT Inc's AXTI.O shares down 6.5% at $73.61 in extended trading on planned equity raise

** Fremont, California-based firm announces planned stock offering; deal size not known

** It intends to use net offering proceeds primarily to support its Beijing subsidiary to increase manufacturing capacity, for R&D, and for working capital and general corporate purposes

** Northland Capital Markets sole bookrunner

** With ~55.6 mln shares outstanding, AXTI has $4.4 bln market cap

** Stock closed down 4.6% at $78.76 on Mon after ending 2025 at $16.35

** 4 of 5 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $28, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))