AXT, Inc. (NASDAQ:AXTI) Surges 5.40% Pre-Market on Earnings Outlook, China Export Permits, Analyst Upgrades

AXT, Inc. (NASDAQ:AXTI) surged 5.40% in pre-market trading on Dec. 5, 2025, signaling renewed investor interest amid recent developments. The stock opened at $12.10, reflecting optimism ahead of its earnings release scheduled for Oct. 30.

Recent catalysts include AXT’s participation in the Northland Securities Growth Conference, which highlighted its strategic positioning in semiconductor substrates for 5G, data center connectivity, and photonic applications. Analysts from Wedbush and Northland Securities reiterated “Buy” ratings, citing improved export approvals and upgraded growth forecasts. Additionally, the company secured export permits in China, a critical market for its indium phosphide and gallium arsenide substrates.

Short-term momentum is also fueled by institutional and retail investor activity. Retail holders, who own 58% of the float, have seen gains of 23% year-to-date, while institutions added 160,858 shares in August. However, insider sales in late November, including 50,000 shares by Director David C. Chang, introduced some near-term volatility. Despite this, AXT’s beta of 1.97 underscores its high-risk, high-reward profile in the semiconductor sector.

With a consensus price target of $9.00 and a “Moderate Buy” rating from Wall Street, AXT’s near-term trajectory hinges on its ability to capitalize on demand for photonics and infrared technologies amid global supply chain shifts.