Amtech Systems (NASDAQ:ASYS) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Amtech Systems shares crossed above their 200-day moving average, trading as high as $17.98 and last changing hands at $17.83, versus the moving average of $17.03.
• Analyst sentiment has weakened, with multiple firms downgrading the stock; the consensus rating is “Hold”, while the average price target remains $22.00.
• The company exceeded quarterly expectations, reporting $0.14 in earnings per share versus a $0.10 estimate and $22.38 million in revenue. Meanwhile, the CEO and CFO made stock purchases, and insiders collectively own 26.9% of the company.

Amtech Systems, Inc. (NASDAQ:ASYS - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $17.03 and traded as high as $17.98. Amtech Systems shares last traded at $17.83, with a volume of 221,866 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings lowered shares of Amtech Systems from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, September 16th. Wall Street Zen downgraded shares of Amtech Systems from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 14th. Finally, Zacks Research lowered shares of Amtech Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Amtech Systems has an average rating of "Hold" and a consensus price target of $22.00.

Amtech Systems Stock Performance

The company has a market cap of $312.20 million, a P/E ratio of 68.58 and a beta of 2.09. The firm has a 50 day moving average price of $15.32 and a two-hundred day moving average price of $17.03.

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 for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $22.38 million during the quarter, compared to analyst estimates of $21.50 million. Amtech Systems had a return on equity of 6.33% and a net margin of 4.90%. On average, sell-side analysts predict that Amtech Systems, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity

In other Amtech Systems news, CFO Thomas Sabol purchased 2,000 shares of the stock in a transaction dated Monday, September 14th. The shares were bought at an average price of $14.13 per share, with a total value of $28,260.00. Following the completion of the transaction, the chief financial officer directly owned 2,000 shares in the company, valued at approximately $28,260. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Guy Shechter purchased 3,450 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $14.34 per share, for a total transaction of $49,473.00. Following the completion of the purchase, the chief executive officer directly owned 53,450 shares in the company, valued at $766,473. This represents a 6.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 26.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amtech Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of ASYS. Engineers Gate Manager LP increased its holdings in shares of Amtech Systems by 2.6% in the second quarter. Engineers Gate Manager LP now owns 38,552 shares of the semiconductor company's stock worth $890,000 after purchasing an additional 972 shares during the period. Empowered Funds LLC boosted its stake in Amtech Systems by 9.5% during the first quarter. Empowered Funds LLC now owns 32,318 shares of the semiconductor company's stock valued at $377,000 after buying an additional 2,800 shares during the period. Walleye Capital LLC purchased a new position in Amtech Systems during the first quarter worth about $142,000. NewEdge Advisors LLC grew its position in Amtech Systems by 84.2% during the first quarter. NewEdge Advisors LLC now owns 26,891 shares of the semiconductor company's stock worth $314,000 after buying an additional 12,291 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Amtech Systems by 5.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 365,387 shares of the semiconductor company's stock worth $4,268,000 after acquiring an additional 18,354 shares during the last quarter. Institutional investors own 50.21% of the company's stock.

About Amtech Systems

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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