Amtech Systems, Inc. (ASYS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Amtech Systems, Inc. (NASDAQ:ASYS) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

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 equities research analysts have also recently weighed in on the stock. Cowen and Company restated an outperform rating and issued a $13.50 price objective (up previously from $10.50) on shares of Amtech Systems in a research report on Thursday, August 10th. Benchmark Co. restated a buy rating and issued a $12.00 price objective on shares of Amtech Systems in a research report on Thursday, August 10th. Finally, Roth Capital initiated coverage on shares of Amtech Systems in a research report on Friday, August 4th. They set a buy rating and a $12.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $13.38.

Amtech Systems (NASDAQ:ASYS) traded down 1.87% on Wednesday, reaching $13.67. 130,921 shares of the company’s stock traded hands. Amtech Systems has a 52-week low of $3.99 and a 52-week high of $15.45. The stock has a market capitalization of $182.32 million, a PE ratio of 117.84 and a beta of 2.11. The firm’s 50-day moving average is $12.43 and its 200 day moving average is $9.42.

Amtech Systems (NASDAQ:ASYS) last posted its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.30. The firm had revenue of $47.76 million during the quarter, compared to analysts’ expectations of $40.40 million. Amtech Systems had a net margin of 1.00% and a return on equity of 2.34%. The company’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) EPS. Analysts forecast 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. Nationwide Fund Advisors grew its position in shares of Amtech Systems by 427.8% during the 3rd quarter. Nationwide Fund Advisors now owns 9,500 shares of the semiconductor company’s stock worth $114,000 after buying an additional 7,700 shares during the period. Virtu KCG Holdings LLC grew its position 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 buying an additional 1,813 shares during the period. Northern Trust Corp grew its position 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 buying an additional 242 shares during the period. PDT Partners LLC acquired a new stake in shares of Amtech Systems during the 2nd quarter worth approximately $225,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Amtech Systems during the 2nd quarter worth approximately $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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