Amtech Systems (NASDAQ:ASYS) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Amtech Systems from hold to buy, adding to mixed analyst sentiment that still averages to a Hold rating with a $22 price target.
• The company’s latest quarter topped expectations, with EPS of $0.10 versus $0.05 expected and revenue of $20.47 million versus $19.50 million expected.
• Amtech Systems’ stock jumped 18% and traded at $21.49, near its 52-week high of $23.90, as investors also noted strong institutional ownership of 50.21%.

Amtech Systems (NASDAQ:ASYS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other research analysts have also recently commented on the stock. Roth Mkm restated a "buy" rating and issued a $22.00 price target on shares of Amtech Systems in a research report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Amtech Systems in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Amtech Systems from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.00.

Amtech Systems Trading Up 18.0%

NASDAQ:ASYS opened at $21.49 on Friday. The stock has a market cap of $309.67 million, a P/E ratio of 126.41 and a beta of 1.95. The stock has a 50 day simple moving average of $14.07 and a 200 day simple moving average of $12.20. Amtech Systems has a 1-year low of $3.26 and a 1-year high of $23.90.

Amtech Systems (NASDAQ:ASYS - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. The firm had revenue of $20.47 million for the quarter, compared to analyst estimates of $19.50 million. Amtech Systems had a return on equity of 5.65% and a net margin of 3.11%. As a group, sell-side analysts forecast that Amtech Systems will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASYS. Ritholtz Wealth Management acquired a new stake in Amtech Systems during the 4th quarter valued at approximately $497,000. Merit Financial Group LLC acquired a new position in shares of Amtech Systems in the 4th quarter worth approximately $464,000. Kestra Advisory Services LLC bought a new stake in shares of Amtech Systems in the 4th quarter valued at $88,000. NewEdge Advisors LLC bought a new stake in shares of Amtech Systems in the 3rd quarter valued at $135,000. Finally, Millennium Management LLC acquired a new stake in shares of Amtech Systems during the third quarter worth $111,000. 50.21% of the stock is owned by institutional investors.

About Amtech Systems

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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