Amtech Systems (ASYS) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Amtech Systems (NASDAQ:ASYS) from a hold rating to a buy rating in a report published on Tuesday morning. The firm currently has $5.50 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. “

A number of other research firms have also weighed in on ASYS. Benchmark lowered shares of Amtech Systems from a buy rating to a hold rating and set a $16.00 price target for the company. in a research report on Friday, August 10th. Roth Capital set a $5.00 target price on shares of Amtech Systems and gave the stock a hold rating in a research report on Friday, August 10th. ValuEngine upgraded shares of Amtech Systems from a strong sell rating to a sell rating in a research report on Monday, August 13th. Finally, Cowen set a $11.00 target price on shares of Amtech Systems and gave the stock a buy rating in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $9.38.

Shares of ASYS traded up $0.03 during mid-day trading on Tuesday, reaching $4.56. The stock had a trading volume of 439 shares, compared to its average volume of 121,687. The firm has a market cap of $70.59 million, a P/E ratio of 6.73 and a beta of 2.05. Amtech Systems has a 12 month low of $4.46 and a 12 month high of $15.11. 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 (NASDAQ:ASYS) last posted its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.28. The business had revenue of $41.20 million during the quarter, compared to analyst estimates of $35.19 million. Amtech Systems had a net margin of 10.67% and a return on equity of 19.36%. The company’s revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. Equities analysts anticipate that Amtech Systems will post 0.74 earnings per share for the current year.

Several large investors have recently modified their holdings of ASYS. Bank of Montreal Can bought a new position in shares of Amtech Systems during the second quarter worth $130,000. Algert Global LLC bought a new position in shares of Amtech Systems during the second quarter worth $159,000. A.R.T. Advisors LLC lifted its position in Amtech Systems by 45.4% during the first quarter. A.R.T. Advisors LLC now owns 28,968 shares of the semiconductor company’s stock valued at $212,000 after purchasing an additional 9,050 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Amtech Systems during the second quarter valued at $388,000. Finally, GSA Capital Partners LLP bought a new position in Amtech Systems during the first quarter valued at $536,000. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Amtech Systems Company Profile

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.

See Also: Retained Earnings

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