On September 4, AXT Inc rose 8.09% in regular trading, trading at approximately $60.32/share, with turnover of $2.45 billion. The rally was driven by a broad-based surge across U.S. storage and optical communication stocks during the session.

On the news front, storage and optical communication names rallied in unison, with SanDisk up 5%, Seagate up 4%, and Coherent up 3%, creating significant sector linkage effects. AXT, as a core supplier of indium phosphide substrates used in data center optical connectivity, directly benefited from the optical communication sector strength. From a pre-market session onward, AXT had already gained approximately 4%, signaling sustained buying interest throughout the day.

On the fundamental side, the company previously reported Q2 results that significantly exceeded both its own guidance and consensus estimates, with non-GAAP EPS nearly tripling guidance. Indium phosphide revenue hit a record high, driven by data center applications. Management characterized the quarter as a business inflection point. Wedbush maintained its outperform rating, noting the company is well-positioned to capitalize on AI-fueled demand, with the opportunity still in early innings. B. Riley also raised its price target to $55, while the analyst consensus average target stands at $96.50.

(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.)