NEW YORK, May 22, 2026, 19:04 EDT
- AXT closed Friday at $140.83, up 16.37% on the day, and saw little change in after-hours trading, according to StockAnalysis.
- The move topped a few analyst targets as investors hunted for AI-linked optical networking names.
- Export permits, capacity execution, and valuation remain the key issues for the rally now.
AXT Inc. hit a fresh 52-week high Friday, with buyers focused on AI data center hardware plays. The shares ended at $140.83, up 16.37%. The stock touched $141.37 near the end of trading, and was quoted at $141.00 after hours at 6:50 p.m. EDT.
AXT jumped on Friday, beating the Nasdaq Composite’s 0.2% move. The shares finished above the average analyst target on StockAnalysis—momentum buyers likely bought in before sell-side targets.
AXT said on May 18 it would go to the B. Riley Securities conference on May 21, Craig-Hallum on May 28, and Northland Securities on June 23. During those meetings, investors pressed management with questions about demand, capacity, and pricing.
Indium phosphide, or InP, is getting attention as a compound semiconductor for wafers when silicon isn’t enough in fast optics. AXT CEO Morris Young said last month, “AXT is stepping up,” after the company raised money to support Tongmei’s InP growth and more work on new products like 6-inch InP wafers. Business Wire
AXT’s latest numbers are on the tape. First-quarter revenue hit $26.9 million, climbing from $19.4 million a year ago. Gross margin turned positive at 29.6%, reversing last year’s negative figure. Net loss narrowed to $1.6 million, or 3 cents per share, compared with $8.8 million, or 20 cents a share in the year-earlier period.
Management is calling for a stronger quarter now. On the call, the company said it expects revenue to rise in Q2 from Q1, with InP driving most of it. The InP backlog is more than $100 million. The company expects to turn profitable in Q2, both under U.S. GAAP and on an adjusted metric.
Wall Street is split. Wedbush analyst Matt Bryson kept a Buy rating and raised his target to $93 from $80 on May 1, according to StockAnalysis. The site tracked five analysts with an average Hold and a $57 target. Shares closed Friday far above those targets.
AXT is moving alongside a broader rally in optical-networking shares, as reported by Barron’s last week. Investors have picked up names like Coherent, Lumentum, and Applied Optoelectronics with the AI data-center story still strong. AXT sits higher in the supply chain, making substrate materials for products found in data-center interconnects, 5G, lasers, sensors, and more.
AXT brought in fresh funds after it closed a public offering in April, raising about $550 million at $64.25 per share. Underwriters exercised their option, adding $82.5 million more. The company plans to spend the proceeds on Beijing Tongmei’s InP expansion, R&D, working capital, and other uses.
Risk is right out front. AXT said Q2 growth and beyond depend on export permits. The company said it can’t know when permits will arrive or steer that process. If permits lag, customers may hit pause on orders or investors could decide the stock moved too far ahead of profits. That would quickly turn Friday’s thin rally margin the opposite way.
AXT has delayed its 2026 annual meeting after not reaching a quorum on May 14, moving it to June 4. As of the adjournment, about 48% of shares were represented by proxies. The meeting isn’t expected to address the InP cycle. Still, with recent developments, even standard meetings can draw notice.
