AXT board member Christine Russell passes away at 75

FREMONT, California - AXT, Inc. (NASDAQ:AXTI), a manufacturer of compound semiconductor substrates with a market capitalization of $111 million, announced that board member Christine Russell died on July 11, 2025. The company’s stock, which has gained over 10% in the past month according to InvestingPro data, is currently trading below its Fair Value.

Russell, who joined AXT’s board in December 2019 as an independent director, served as Chair of the Audit Committee and was a member of both the Compensation Committee and the Nominating and Corporate Governance Committee.

"She brought tremendous intelligence, strategic planning and thoughtful decision-making to our board," said Morris Young, Chief Executive Officer, in a statement released by the company.

AXT specializes in manufacturing high-performance compound and single element semiconductor substrate wafers including indium phosphide, gallium arsenide, and germanium. These materials are used in applications where traditional silicon substrates cannot meet performance requirements.

The company, headquartered in Fremont, California, maintains manufacturing facilities in China and has partial ownership in ten Chinese companies that produce raw materials for its manufacturing processes.

The announcement was made in a press release issued by the company.

In other recent news, AXT Inc. has adjusted its financial outlook, lowering its second-quarter 2025 revenue guidance to between $17.5 million and $18 million due to export challenges and weaker demand in China. This revision is a decrease from the earlier forecast of $20 million to $22 million, primarily caused by delays in export permits for gallium arsenide products. Despite these setbacks, the company reported increased demand for indium phosphide in China, and its subsidiary, Beijing Tongmei Xtal Technology Co., successfully obtained its first export permits for indium phosphide. Additionally, AXT’s first-quarter 2025 earnings missed expectations, with an earnings per share (EPS) of -$0.19 and revenue of $19.4 million, falling short of the anticipated $23.85 million. B. Riley analyst David Kang has maintained a Buy rating on AXT but lowered the price target from $4.50 to $4.30. Furthermore, AXT’s stockholders have approved a new equity incentive plan aimed at attracting and retaining talent. The company is navigating complex international trade regulations, which continue to impact its operations and financial performance.

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