On July 28, AXT Inc fell 9.52% in pre-market trading, trading at approximately $43.89/share, with turnover of $10.26 million.

On the news front, B. Riley significantly cut its price target on AXT Inc from $73 to $52, a reduction of nearly 29%, while maintaining a Neutral rating. The downgrade came just two days ahead of the company's second-quarter earnings release scheduled for July 30 after market close, intensifying profit-taking pressure among existing holders. Market consensus expects Q2 revenue of approximately $34.09 million, representing 72.36% year-over-year growth, with adjusted EPS of $0.07.

Adding to the selling pressure, the broader Semiconductor Equipment sector saw widespread declines, with ASML Holding down 4.43%, Applied Materials down 4.89%, Lam Research down 6.05%, KLA-Tencor down 4.99%, and Teradyne down 4.95%. Despite the target price cut, FactSet consensus still shows an average analyst rating of Overweight with a mean target of $96.50, suggesting divergence among sell-side firms.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)