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

Key Points

• Amtech Systems' stock price has surpassed its 200-day moving average, reaching as high as $6.68 and last trading at $6.42, indicating strong performance in recent trading sessions.
• Research analysts have recently upgraded Amtech's stock rating from a "sell" to a "hold," with Zacks Research giving it a "strong-buy" rating, reflecting positive investor sentiment.
• Institutional ownership of Amtech Systems currently sits at 50.21%, with several hedge funds increasing their stakes in the company over recent quarters, indicating growing institutional interest.

Shares of Amtech Systems, Inc. (NASDAQ:ASYS - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.54 and traded as high as $6.68. Amtech Systems shares last traded at $6.42, with a volume of 232,620 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wall Street Zen raised Amtech Systems from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Zacks Research raised Amtech Systems from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of "Strong Buy".

Amtech Systems Stock Performance

The business has a 50 day moving average price of $5.38 and a two-hundred day moving average price of $4.62. The company has a market cap of $125.96 million, a P/E ratio of -3.93 and a beta of 1.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new position in Amtech Systems during the 4th quarter valued at approximately $71,000. Williams & Novak LLC raised its position in shares of Amtech Systems by 24.8% in the 2nd quarter. Williams & Novak LLC now owns 18,385 shares of the semiconductor company's stock worth $82,000 after acquiring an additional 3,650 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Amtech Systems in the 2nd quarter worth approximately $105,000. Millennium Management LLC raised its position in shares of Amtech Systems by 82.7% in the 4th quarter. Millennium Management LLC now owns 22,706 shares of the semiconductor company's stock worth $124,000 after acquiring an additional 10,281 shares in the last quarter. Finally, 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. Institutional investors own 50.21% of the company's stock.

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.