Amtech Systems, Inc. (ASYS) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Amtech Systems, Inc. (NASDAQ:ASYS) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $16.00 price objective on the semiconductor company’s stock.
According to Zacks, “AMTECH SYSTEMS, INC. is engaged in the manufacture of several items of capital equipment, one of which is patented, used by customers in the manufacture of semiconductors. Co. has recently obtained a U.S. patent on technology on which it expects to base a proposed new photo chemical vapor deposition (CVD) product for use in semiconductor manufacturing facilities. The Company has engaged the University of California, Santa Cruz, to conduct a study to determine the feasibility of such a product. “
Several other brokerages have also recently issued reports on ASYS. Cowen and Company reiterated an outperform rating and issued a $13.50 price objective (up from $10.50) on shares of Amtech Systems in a research note on Thursday, August 10th. Benchmark Co. reiterated a buy rating and issued a $12.00 price objective on shares of Amtech Systems in a research note on Thursday, August 10th. Finally, Roth Capital began coverage on Amtech Systems in a research note on Friday, August 4th. They issued a buy rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $13.38.
Shares of Amtech Systems (NASDAQ:ASYS) traded down 1.87% on Tuesday, hitting $13.67. The stock had a trading volume of 130,921 shares. Amtech Systems has a 12-month low of $3.99 and a 12-month high of $15.45. The firm has a market cap of $182.32 million, a price-to-earnings ratio of 117.84 and a beta of 2.11. The stock has a 50 day moving average of $12.43 and a 200 day moving average of $9.42.
Amtech Systems (NASDAQ:ASYS) last announced its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.30. The business had revenue of $47.76 million for the quarter, compared to analysts’ expectations of $40.40 million. Amtech Systems had a return on equity of 2.34% and a net margin of 1.00%. The company’s revenue for the quarter was up 43.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) earnings per share. Equities analysts predict that Amtech Systems will post $0.23 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of ASYS. Janney Montgomery Scott LLC raised its stake in Amtech Systems by 219.7% in the second quarter. Janney Montgomery Scott LLC now owns 123,412 shares of the semiconductor company’s stock valued at $1,042,000 after buying an additional 84,812 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Amtech Systems by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 466,683 shares of the semiconductor company’s stock valued at $3,939,000 after buying an additional 52,701 shares in the last quarter. EAM Investors LLC acquired a new stake in Amtech Systems in the second quarter valued at $435,000. Algert Global LLC raised its stake in Amtech Systems by 149.7% in the second quarter. Algert Global LLC now owns 66,572 shares of the semiconductor company’s stock valued at $562,000 after buying an additional 39,912 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in Amtech Systems in the second quarter valued at $241,000. Institutional investors own 50.37% of the company’s stock.
About Amtech Systems
Amtech Systems, Inc is engaged in the manufacture of capital equipment, including thermal processing, silicon wafer handling automation and related consumables used in fabricating solar cells, Light Emitting Diode (LED) and semiconductor devices. The Company operates through three business segments: solar, semiconductor and polishing.
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