On July 28, AXT Inc declined 9.58% in regular trading, trading at $41.705/share, with turnover of $68.508 million.

On the news front, B. Riley significantly reduced its price target on AXT Inc from $73 to $52, a cut of approximately 29%, while maintaining a Neutral rating. The downgrade comes just two days ahead of the company's scheduled second-quarter earnings release on July 30 after market close, where consensus estimates project revenue of approximately $34.09 million, representing 72.36% year-over-year growth, and adjusted EPS of $0.07.

The target price reduction near the earnings window intensified profit-taking pressure among holders who had benefited from the stock's prior run-up driven by AI optical communications and indium phosphide demand themes. Concurrently, the broader semiconductor equipment sector experienced significant selling, with ASML down 4.69%, Applied Materials down 5.87%, Lam Research down 6.47%, KLA-Tencor down 5.56%, and Amkor Technology down 19.59%, amplifying downward pressure on AXT Inc through sector-wide contagion.

(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.)