Brevan Howard Capital Management 13F: Adds $3.9M to AXTI Stake

Brevan Howard Expands AXT, Inc. Holdings

Brevan Howard Capital Management filed a Form 13F with the SEC detailing its investment portfolio adjustments. The filing shows the firm boosted its position in AXT, Inc. (NasdaqGS: AXTI) by 261.7% during the period ended May 15, 2026. The fund purchased an additional 54,250 shares, bringing its total ownership to 74,979 shares. Based on the reported period data, the stake carried an estimated value of about $5.4 million.

How the Position Changed

Prior to this update, Brevan Howard held 20,729 shares of the semiconductor substrate maker. The addition of 54,250 shares lifted the holding size significantly. Institutional filings like this one offer a retrospective look at portfolio moves and do not necessarily reflect current trading activity.

AXT, Inc. Stock Price Context

Shares of AXT, Inc. recently changed hands at $72.08. The stock trades well above its 200-day moving average of $62.87 and close to its 50-day moving average of $71.27. The company's valuation reflects a forward P/E of 25.7, alongside a market capitalization near $3.8 billion.

Recent Insider Sales at AXT, Inc.

Insider activity continued in June following earlier reporting periods. On June 11, 2026, Jesse Chen sold 9,000 shares at an average price of $88.55 for a total value of $796,950. Chen returned on June 12 to sell another 13,000 shares at $95.77, worth about $1.25 million, and sold 6,172 shares on June 15 at $115.24 for $711,261.28. Additionally, David Chang offloaded 8,333 shares on June 15 at $111.17, totaling $926,379.61.

Wall Street Analyst Updates

Analyst sentiment features a mix of cautious holds and bullish upgrades. On July 28, 2026, B. Riley Securities maintained a Neutral rating while adjusting its price target from $73.00 to $52.00. Later on July 31, 2026, Needham upgraded the stock to a Buy rating with a $90.00 price target. On the same day, B. Riley Securities maintained its Neutral rating and set a $55.00 price target. Across five analysts, the consensus target sits at $91.60.

About AXT, Inc.

AXT, Inc. designs and manufactures compound semiconductor substrates used in high-speed data transfer, 5G communications, lasers, sensors, and solar cells. The Fremont, California-based company supplies vital components for modern technology infrastructure, including data center connectivity and mobile devices. Its materials support applications ranging from autonomous vehicle lidar to consumer electronics.

What's Ahead for AXT, Inc.

Investors tracking institutional interest in AXT, Inc. will look toward upcoming SEC filings to see if Brevan Howard and other major funds adjust their stakes further. The company's next earnings report is scheduled for October 29, 2026. These updates will provide clearer visibility into how semiconductor demand shapes the company's financial results.