Zacks Investment Research Lowers Amtech Systems (ASYS) to Hold

Zacks Investment Research lowered shares of Amtech Systems (NASDAQ:ASYS) from a buy rating to a hold rating in a research report released on Thursday morning.

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 research firms also recently weighed in on ASYS. Benchmark downgraded Amtech Systems from a buy rating to a hold rating and set a $16.00 price target for the company. in a research note on Friday, August 10th. Cowen set a $11.00 price target on Amtech Systems and gave the stock a buy rating in a research note on Thursday, August 9th. ValuEngine downgraded Amtech Systems from a sell rating to a strong sell rating in a research note on Monday, August 20th. Finally, Roth Capital set a $5.00 price target on Amtech Systems and gave the stock a hold rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $9.19.

NASDAQ:ASYS traded up $0.01 during trading on Thursday, reaching $5.00. The company’s stock had a trading volume of 125,391 shares, compared to its average volume of 115,564. The company has a market capitalization of $74.94 million, a PE ratio of 3.85 and a beta of 1.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.93 and a quick ratio of 2.42. Amtech Systems has a 12 month low of $4.25 and a 12 month high of $15.10.

Amtech Systems (NASDAQ:ASYS) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.28. The firm had revenue of $41.20 million during the quarter, compared to the consensus estimate of $35.19 million. Amtech Systems had a return on equity of 19.36% and a net margin of 10.67%. The business’s revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. Sell-side analysts anticipate that Amtech Systems will post 0.74 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can bought a new position in shares of Amtech Systems during the 2nd quarter worth $130,000. Algert Global LLC bought a new position in Amtech Systems in the 2nd quarter worth about $159,000. A.R.T. Advisors LLC boosted its stake in Amtech Systems by 45.4% in the 1st quarter. A.R.T. Advisors LLC now owns 28,968 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 9,050 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Amtech Systems in the 2nd quarter worth about $388,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Amtech Systems by 37.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 109,320 shares of the semiconductor company’s stock worth $661,000 after purchasing an additional 29,705 shares during the period. Institutional investors own 57.47% of the company’s stock.

About Amtech Systems

Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating solar cells, LED, and semiconductor devices in the United States, Asia, Europe, and internationally. It operates through Solar, Semiconductor, and Polishing segments. The Solar segment supplies thermal processing systems, including diffusion, plasma-enhanced chemical vapor deposition, and atomic layer deposition systems; and automation equipment comprising mass wafer transfer systems, sorters, long-boat transfer systems, load station elevators, buffers, and conveyers, as well as related parts and services.

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