Amtech Systems (NASDAQ:ASYS) Now Covered by Lake Street Capital

Key Points

• Lake Street Capital initiated coverage of Amtech Systems with a “buy” rating and a $22 price target, implying approximately 67% upside from the reported $13.16 share price.
• Analyst sentiment is mixed: two analysts rate the stock a Buy and three rate it Hold, producing an overall “Hold” consensus and an average price target of $22.
• Amtech exceeded quarterly expectations, reporting $0.14 in EPS versus the $0.10 consensus and revenue of $22.38 million versus $21.50 million; the CEO and CFO also recently purchased company shares.

Stock analysts at Lake Street Capital assumed coverage on shares of Amtech Systems (NASDAQ:ASYS - Get Free Report) in a report issued on Tuesday, MarketBeat.com reports. The firm set a "buy" rating and a $22.00 price target on the semiconductor company's stock. Lake Street Capital's price target would suggest a potential upside of 67.17% from the stock's current price.

A number of other research analysts also recently weighed in on ASYS. Zacks Research downgraded Amtech Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Weiss Ratings cut Amtech Systems from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, September 16th. Finally, Wall Street Zen lowered Amtech Systems from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $22.00.

Amtech Systems Trading Up 2.8%

Shares of ASYS opened at $13.16 on Tuesday. Amtech Systems has a 1-year low of $6.75 and a 1-year high of $25.71. The firm's 50-day moving average price is $15.31 and its 200-day moving average price is $17.30. The firm has a market capitalization of $230.43 million, a price-to-earnings ratio of 44.14 and a beta of 2.09.

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

Insider Activity

In other Amtech Systems news, CEO Guy Shechter bought 3,450 shares of the firm's stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $14.34 per share, with a total value of $49,473.00. Following the completion of the purchase, the chief executive officer owned 53,450 shares of the company's stock, valued at approximately $766,473. This trade represents a 6.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas B. Sabol bought 2,000 shares of the stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $14.13 per share, with a total value of $28,260.00. Following the completion of the acquisition, the chief financial officer directly owned 2,000 shares of the company's stock, valued at approximately $28,260. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 26.90% of the company's stock.

Institutional Trading of Amtech Systems

Hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in Amtech Systems during the 1st quarter valued at approximately $142,000. Bank of America Corp DE raised its stake in Amtech Systems by 28,941.0% during the first quarter. Bank of America Corp DE now owns 22,652 shares of the semiconductor company's stock valued at $265,000 after buying an additional 22,574 shares during the last quarter. State of Wyoming purchased a new position in Amtech Systems during the first quarter valued at $277,000. Hillsdale Investment Management Inc. bought a new stake in Amtech Systems in the first quarter worth $296,000. Finally, NewEdge Advisors LLC boosted its holdings in Amtech Systems by 84.2% in the first quarter. NewEdge Advisors LLC now owns 26,891 shares of the semiconductor company's stock worth $314,000 after acquiring an additional 12,291 shares in the last quarter. 50.21% of the stock is owned by institutional investors.

Amtech Systems Company Profile

Amtech Systems, Inc develops and manufactures equipment and related products used in semiconductor, silicon carbide, solar, and other advanced-materials manufacturing. Its offerings support processes such as thermal processing, wafer handling, polishing, lapping, and chemical-mechanical planarization.

Through its operating businesses, including BTU International, Entrepix, and P.R. Hoffman, Amtech provides thermal-processing systems, wafer-polishing and planarization equipment, precision lapping systems, consumables, replacement parts, and technical services.

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