Amtech Systems, Inc. (ASYS) Rating Increased to Strong-Buy at Zacks Investment Research

Amtech Systems, Inc. (NASDAQ:ASYS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $14.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.41% from the stock’s current price.

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. “

A number of other brokerages have also recently issued reports on ASYS. Cowen and Company set a $14.00 target price on Amtech Systems and gave the stock a “buy” rating in a report on Wednesday, August 9th. Benchmark Co. reiterated a “buy” rating and set a $12.00 target price on shares of Amtech Systems in a report on Thursday, August 10th. Finally, Roth Capital initiated coverage on Amtech Systems in a report on Friday, August 4th. They set a “buy” rating and a $12.00 target price for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.88.

Amtech Systems (ASYS) opened at 12.69 on Tuesday. Amtech Systems has a 52 week low of $3.99 and a 52 week high of $13.06. The firm’s 50-day moving average is $11.46 and its 200 day moving average is $8.79. The stock has a market cap of $169.25 million, a price-to-earnings ratio of 109.40 and a beta of 2.11.

Amtech Systems (NASDAQ:ASYS) last issued its earnings results on Wednesday, August 9th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.30. Amtech Systems had a return on equity of 2.34% and a net margin of 1.00%. The business had revenue of $47.76 million during the quarter, compared to analysts’ expectations of $40.40 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 43.3% on a year-over-year basis. On average, equities research analysts expect that Amtech Systems will post $0.23 EPS for the current year.

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Large investors have recently modified their holdings of the company. Virtu KCG Holdings LLC grew its holdings in shares of Amtech Systems by 14.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 14,268 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 1,813 shares during the period. Northern Trust Corp grew its holdings in shares of Amtech Systems by 1.1% during the 2nd quarter. Northern Trust Corp now owns 21,797 shares of the semiconductor company’s stock worth $184,000 after purchasing an additional 242 shares during the period. Ironwood Investment Management LLC grew its holdings in shares of Amtech Systems by 6.4% during the 1st quarter. Ironwood Investment Management LLC now owns 39,978 shares of the semiconductor company’s stock worth $220,000 after purchasing an additional 2,398 shares during the period. PDT Partners LLC purchased a new stake in shares of Amtech Systems during the 2nd quarter worth about $225,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Amtech Systems during the 2nd quarter worth about $241,000. Institutional investors and hedge funds own 49.99% of the company’s stock.

Amtech Systems Company Profile

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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