Amtech Systems (NASDAQ:ASYS) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Amtech Systems to “Hold” from “Buy,” joining Zacks Research and Weiss Ratings in taking a more cautious view. Analysts’ consensus rating is “Hold,” with an average price target of $22.00.
• Amtech reported quarterly EPS of $0.14, beating the $0.10 consensus estimate, while revenue of $22.38 million exceeded expectations of $21.50 million. Analysts expect full-year EPS of approximately $0.33.
• The stock opened at $12.42, well below its 12-month high of $25.71; meanwhile, company insiders purchased shares and institutional investors own approximately 50.21% of the stock.

Amtech Systems (NASDAQ:ASYS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded Amtech Systems from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, September 16th. Zacks Research lowered shares of Amtech Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Finally, Lake Street Capital started coverage on shares of Amtech Systems in a research note on Tuesday. They set a "buy" rating and a $22.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Amtech Systems has an average rating of "Hold" and an average price target of $22.00.

Amtech Systems Trading Up 0.6%

Amtech Systems stock opened at $12.42 on Friday. The firm has a market cap of $217.47 million, a price-to-earnings ratio of 42.55 and a beta of 2.09. Amtech Systems has a 12 month low of $6.75 and a 12 month high of $25.71. The stock has a fifty day simple moving average of $15.09 and a two-hundred day simple moving average of $17.29.

Amtech Systems (NASDAQ:ASYS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. The business had revenue of $22.38 million during the quarter, compared to analyst estimates of $21.50 million. Amtech Systems had a net margin of 4.90% and a return on equity of 6.33%. On average, equities research analysts forecast that Amtech Systems will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Thomas B. Sabol bought 2,000 shares of the business's stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $14.13 per share, for a total transaction of $28,260.00. Following the purchase, the chief financial officer owned 2,000 shares in the company, valued at $28,260. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Guy Shechter bought 3,450 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was purchased at an average price of $14.34 per share, with a total value of $49,473.00. Following the transaction, the chief executive officer owned 53,450 shares in the company, valued at approximately $766,473. This represents a 6.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 26.90% of the company's stock.

Hedge Funds Weigh In On Amtech Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASYS. AWM Investment Company Inc. bought a new stake in Amtech Systems in the second quarter worth about $15,925,000. Sei Investments Co. grew its stake in shares of Amtech Systems by 104.5% in the 1st quarter. Sei Investments Co. now owns 92,515 shares of the semiconductor company's stock valued at $1,081,000 after buying an additional 47,282 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Amtech Systems during the second quarter worth $959,000. WINTON GROUP Ltd bought a new position in shares of Amtech Systems in the second quarter worth about $654,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Amtech Systems in the 1st quarter worth $296,000. 50.21% of the stock is owned by institutional investors.

About Amtech Systems

Amtech Systems, Inc is a semiconductor equipment manufacturer that develops and supplies thermal processing, wafer polishing, and related production technologies for the semiconductor and solar industries. Its equipment is used in the fabrication and processing of silicon and compound semiconductor wafers, including applications involving power semiconductors and other advanced electronic devices.

Through its operating businesses, Amtech has provided systems such as diffusion and oxidation furnaces, rapid thermal processing equipment, wafer transport and handling systems, and polishing equipment and consumables.

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