Movement Alert｜AXT Inc Rises 6.27% in Regular Trading, Technical Rebound After Multi-Day Pullback Supported by Semiconductor Sector Rally

Market Focus06-02 21:39

On June 2, AXT Inc rose 6.27% in regular trading, trading at $118.46/share, with trading volume of approximately $166 million, staging a notable rebound following consecutive sessions of sharp declines from its recent historical high.

On the news front, the semiconductor equipment sector rallied collectively, with Lam Research up 3.33%, Applied Materials up 3.01%, and ASML up 2.65%, providing broad-based support for an oversold bounce. AXT Inc had previously dropped over 8% on June 1 and declined multiple sessions after surging more than 16% on May 22 following a first-quarter earnings beat featuring 38.7% year-over-year revenue growth and significantly narrowed losses driven by strong AI optical communications demand.

However, director Jesse Chen recently filed a Form 144 indicating plans to sell approximately 109,526 shares valued at roughly $11.59 million, which may cap near-term upside. Market concerns regarding silicon photonics technology potentially weakening long-term demand for the company's indium phosphide substrates and China's indium export controls remain unresolved overhangs.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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