Amtech Systems (NASDAQ:ASYS) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Amtech Systems from “strong-buy” to “hold,” adding to a mixed analyst picture that currently averages out to a Hold rating with a $22.00 price target.
• The stock fell 7.9% and opened at $15.89, well below its 50-day moving average of $20.00 and its consensus analyst target.
• Recent earnings topped expectations, with Amtech reporting $0.10 EPS versus $0.05 expected and revenue of $20.47 million versus $19.50 million estimated.

Amtech Systems (NASDAQ:ASYS - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently weighed in on ASYS. Roth Capital reiterated a "buy" rating and issued a $22.00 target price on shares of Amtech Systems in a report on Friday, May 8th. Weiss Ratings upgraded Amtech Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 10th. Finally, Wall Street Zen upgraded Amtech Systems from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 17th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.00.

Amtech Systems Stock Down 7.9%

Shares of ASYS opened at $15.89 on Thursday. The firm has a market cap of $231.36 million, a PE ratio of 93.47 and a beta of 1.98. The company's fifty day moving average is $20.00 and its two-hundred day moving average is $16.49. Amtech Systems has a fifty-two week low of $4.30 and a fifty-two week high of $25.71.

Amtech Systems (NASDAQ:ASYS - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $20.47 million during the quarter, compared to analysts' expectations of $19.50 million. Amtech Systems had a net margin of 3.11% and a return on equity of 5.58%. As a group, equities research analysts anticipate that Amtech Systems will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Amtech Systems

A number of hedge funds have recently made changes to their positions in ASYS. Ritholtz Wealth Management acquired a new stake in Amtech Systems in the 4th quarter valued at $497,000. Merit Financial Group LLC acquired a new position in shares of Amtech Systems during the fourth quarter worth about $464,000. Sowell Financial Services LLC acquired a new position in shares of Amtech Systems during the fourth quarter worth about $203,000. XTX Topco Ltd acquired a new position in shares of Amtech Systems during the second quarter worth about $105,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Amtech Systems in the fourth quarter worth about $88,000. Hedge funds and other institutional investors own 50.21% of the company's stock.

Amtech Systems Company Profile

Amtech Systems, Inc is a global supplier of capital equipment and aftermarket parts for the solar photovoltaic and semiconductor industries. The company's solutions support key steps in wafer and cell production, offering both new machinery and spares designed to optimize yield, throughput and energy efficiency. Amtech operates through two primary segments: solar manufacturing and semiconductor & electronics packaging.

In its solar segment, Amtech provides diffusion furnaces, epitaxy reactors and plasma-enhanced chemical vapor deposition (PECVD) systems used in high-volume solar cell fabrication.

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