Amtech Systems (NASDAQ:ASYS) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Amtech Systems shares moved above their 200-day moving average during Thursday’s trading, with the stock reaching as high as $17.56 before last trading at $17.25.
• Analyst sentiment has improved, with multiple firms upgrading the stock and MarketBeat showing a consensus rating of “Moderate Buy” and an average price target of $22.00.
• The company recently beat quarterly expectations, posting EPS of $0.10 versus the $0.05 estimate and revenue of $20.47 million versus $19.50 million expected.

Amtech Systems, Inc. (NASDAQ:ASYS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.49 and traded as high as $17.56. Amtech Systems shares last traded at $17.25, with a volume of 255,579 shares.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen raised Amtech Systems from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. Zacks Research raised Amtech Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 24th. Roth Capital reaffirmed a "buy" rating and set a $22.00 target price on shares of Amtech Systems in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Amtech Systems from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Amtech Systems presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Amtech Systems Trading Down 0.5%

The firm has a 50-day simple moving average of $20.10 and a two-hundred day simple moving average of $16.49. The company has a market capitalization of $251.16 million, a price-to-earnings ratio of 101.47 and a beta of 1.98.

Amtech Systems (NASDAQ:ASYS - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. The company had revenue of $20.47 million during the quarter, compared to the consensus estimate of $19.50 million. Amtech Systems had a return on equity of 5.58% and a net margin of 3.11%. On average, sell-side analysts forecast that Amtech Systems, Inc. will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in Amtech Systems in the fourth quarter worth $88,000. XTX Topco Ltd bought a new position in Amtech Systems during the second quarter valued at about $105,000. Millennium Management LLC bought a new position in Amtech Systems during the third quarter valued at about $111,000. NewEdge Advisors LLC acquired a new stake in shares of Amtech Systems in the third quarter worth about $135,000. Finally, Walleye Capital LLC acquired a new stake in shares of Amtech Systems in the first quarter worth about $142,000. Institutional investors and hedge funds 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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