Maytree Asset Management Ltd reported a new holding of 682,299 shares in AXT (NASDAQ:AXTI) worth $11.16 million, representing 8.27% of their 13F reportable assets. Top AXT holdings also include PDD, INTC, NVDA, and SNPS. AXT shares were priced at $20.94 on February 2, 2026, up 911.6% over the past year.

AXT, Inc. produces semiconductor substrates for data center connectivity, 5G, fiber optics, LEDs, and solar cells. The company’s revenue is $90.39 million, with a market capitalization of $1.15 billion. Despite a net loss of $22.98 million, AXT serves technology manufacturers and OEMs globally.

Maytree Asset Management’s purchase of AXT stock reflects a bullish outlook on the company amidst a hot AI market. AXT’s shares surged from $1.13 to $26.66 in 2026. While revenue rose to $28 million in Q3, AXT remains unprofitable, posting an operating loss of $1.1 million.

AXT’s share price increase may be due to the growing demand for its semiconductor components in AI systems. However, with a high price-to-sales ratio, AXT is considered expensive. Investors are advised to hold off and wait for a potential drop in share price before buying.

The Motley Fool’s Stock Advisor analysts did not include AXT in their list of the 10 best stocks to buy now. AXT’s valuation has soared, making it an expensive stock. Investors are encouraged to consider other opportunities with potentially higher returns.

Read more at Yahoo Finance: Investment Firm Maytree Bought Over $11 Million in AXTI. Is the Stock a Buy?