Amtech Systems (NASDAQ:ASYS) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Amtech Systems' stock price crossed above its 200-day moving average of $5.40, reaching a high of $8.14 before closing at $7.94.
• Equities analysts have provided mixed ratings, with Weiss Ratings maintaining a "sell (d-)" rating while Wall Street Zen upgraded it to a "hold" rating.
• Institutional investors have increased their holdings in Amtech Systems, with major firms like Goldman Sachs raising their positions by 135.5% in the first quarter.

Amtech Systems, Inc. (NASDAQ:ASYS - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.40 and traded as high as $8.14. Amtech Systems shares last traded at $7.94, with a volume of 193,051 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ASYS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Amtech Systems in a research note on Wednesday, October 8th. Wall Street Zen raised Amtech Systems from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Zacks Research lowered Amtech Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amtech Systems currently has an average rating of "Reduce".

Amtech Systems Price Performance

The company has a 50 day simple moving average of $7.77 and a 200-day simple moving average of $5.40. The stock has a market cap of $113.62 million, a P/E ratio of -3.54 and a beta of 1.65.

Institutional Investors Weigh In On Amtech Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Williams & Novak LLC raised its position in Amtech Systems by 24.8% during the 2nd quarter. Williams & Novak LLC now owns 18,385 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 3,650 shares during the last quarter. Kovack Advisors Inc. raised its position in shares of Amtech Systems by 15.1% in the 1st quarter. Kovack Advisors Inc. now owns 75,400 shares of the semiconductor company's stock worth $364,000 after acquiring an additional 9,900 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Amtech Systems by 135.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,066 shares of the semiconductor company's stock worth $145,000 after acquiring an additional 17,297 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Amtech Systems by 90.8% in the 1st quarter. Acadian Asset Management LLC now owns 42,584 shares of the semiconductor company's stock worth $204,000 after acquiring an additional 20,264 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Amtech Systems in the 2nd quarter worth approximately $105,000. Institutional investors own 50.21% of the company's stock.

Amtech Systems Company Profile

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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