Amtech Systems (NASDAQ:ASYS) Downgraded by Zacks Investment Research

Amtech Systems (NASDAQ:ASYS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

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. “

Separately, ValuEngine cut Amtech Systems from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. 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 stock. The company currently has an average rating of “Hold” and an average price target of $6.17.

Amtech Systems stock opened at $5.42 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.34 and a quick ratio of 2.76. The stock has a market capitalization of $77.76 million, a price-to-earnings ratio of 9.51 and a beta of 2.21. Amtech Systems has a 1-year low of $4.03 and a 1-year high of $7.18. The business has a fifty day moving average price of $5.26 and a 200-day moving average price of $5.74.

Amtech Systems (NASDAQ:ASYS) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.05. The firm had revenue of $21.00 million during the quarter, compared to analysts’ expectations of $19.69 million. Amtech Systems had a negative return on equity of 3.60% and a negative net margin of 14.93%. The business’s quarterly revenue was down 26.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, equities research analysts anticipate that Amtech Systems will post 0.16 earnings per share for the current fiscal year.

In other news, Director Robert M. Averick purchased 20,000 shares of the stock in a transaction on Friday, August 30th. The stock was bought at an average price of $5.27 per share, with a total value of $105,400.00. Following the transaction, the director now owns 150,659 shares in the company, valued at approximately $793,972.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. OLD Second National Bank of Aurora lifted its position in Amtech Systems by 107.4% during the 2nd quarter. OLD Second National Bank of Aurora now owns 7,313 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 3,787 shares during the period. BlackRock Inc. lifted its position in Amtech Systems by 8.0% during the 2nd quarter. BlackRock Inc. now owns 136,648 shares of the semiconductor company’s stock worth $752,000 after acquiring an additional 10,122 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in Amtech Systems by 2.0% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 729,514 shares of the semiconductor company’s stock worth $4,012,000 after acquiring an additional 14,366 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Amtech Systems during the 2nd quarter worth about $85,000. Finally, Bailard Inc. acquired a new stake in Amtech Systems during the 2nd quarter worth about $149,000. 56.77% of the stock is owned by institutional investors.

About Amtech Systems

Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating solar cells, light-emitting diodes (LEDs), and semiconductor devices in the United States, Europe, China, Malaysia, Taiwan, Germany, the Netherlands, France, and internationally. The company operates through three segments: Solar, Semiconductor, and Polishing.

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