Amtech Systems (NASDAQ:ASYS) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Amtech Systems' stock price recently crossed above its 200-day moving average, reaching a high of $9.61 before closing at $9.28, indicating potential upward momentum.
• Zacks Research upgraded Amtech Systems from a "hold" to a "strong-buy" rating, and the stock is currently viewed favorably by Wall Street analysts with an average rating of "Strong Buy."
• Institutional investors have increased their stake in Amtech Systems significantly, with notable purchases including a 135.5% boost in shares by Goldman Sachs Group Inc.

Amtech Systems, Inc. (NASDAQ:ASYS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.67 and traded as high as $9.61. Amtech Systems shares last traded at $9.28, with a volume of 461,955 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on ASYS shares. Zacks Research raised shares of Amtech Systems from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Wall Street Zen raised shares of Amtech Systems from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".

Amtech Systems Price Performance

The firm's fifty day simple moving average is $5.56 and its 200 day simple moving average is $4.67. The company has a market capitalization of $132.80 million, a price-to-earnings ratio of -4.14 and a beta of 1.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASYS. Squarepoint Ops LLC acquired a new position in shares of Amtech Systems in the fourth quarter worth about $71,000. Williams & Novak LLC boosted its holdings in shares of Amtech Systems by 24.8% in the second quarter. Williams & Novak LLC now owns 18,385 shares of the semiconductor company's stock worth $82,000 after buying an additional 3,650 shares during the period. XTX Topco Ltd acquired a new position in shares of Amtech Systems in the second quarter worth about $105,000. Millennium Management LLC boosted its holdings in shares of Amtech Systems by 82.7% during the fourth quarter. Millennium Management LLC now owns 22,706 shares of the semiconductor company's stock worth $124,000 after purchasing an additional 10,281 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Amtech Systems by 135.5% during the first quarter. Goldman Sachs Group Inc. now owns 30,066 shares of the semiconductor company's stock worth $145,000 after purchasing an additional 17,297 shares during the period. 50.21% of the stock is currently owned by institutional investors and hedge funds.

About Amtech Systems

Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating silicon carbide (SiC), silicon power devices, analog and discrete devices, electronic assemblies, and light-emitting diodes (LEDs) worldwide. The company operates through Semiconductor and Material and Substrate segments.

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