Amtech Systems (NASDAQ:ASYS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Amtech Systems (NASDAQ:ASYS) from a buy rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

According to Zacks, “AMTECH SYSTEMS, INC. is engaged in the manufacture of several items of capital equipment, one of which is patented, used by customers in the manufacture of semiconductors. Co. has recently obtained a U.S. patent on technology on which it expects to base a proposed new photo chemical vapor deposition (CVD) product for use in semiconductor manufacturing facilities. The Company has engaged the University of California, Santa Cruz, to conduct a study to determine the feasibility of such a product. “

Separately, ValuEngine downgraded shares of Amtech Systems from a hold rating to a sell rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $6.17.

Shares of NASDAQ:ASYS opened at $5.42 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.34 and a quick ratio of 2.76. Amtech Systems has a 1-year low of $4.03 and a 1-year high of $7.18. The company has a market capitalization of $77.76 million, a P/E ratio of 9.51 and a beta of 2.21. The firm’s 50 day simple moving average is $5.26 and its two-hundred day simple moving average is $5.74.

Amtech Systems (NASDAQ:ASYS) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Amtech Systems had a negative net margin of 14.93% and a negative return on equity of 3.60%. The business had revenue of $21.00 million for the quarter, compared to the consensus estimate of $19.69 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. On average, sell-side analysts anticipate that Amtech Systems will post 0.16 earnings per share for the current fiscal year.

In related news, Director Robert M. Averick bought 20,000 shares of the stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of $5.27 per share, with a total value of $105,400.00. Following the completion of the acquisition, the director now owns 150,659 shares of the company’s stock, valued at $793,972.93. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 22.00% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Amtech Systems by 2.0% in the second quarter. Pacific Ridge Capital Partners LLC now owns 729,514 shares of the semiconductor company’s stock worth $4,012,000 after buying an additional 14,366 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Amtech Systems by 8.0% in the second quarter. BlackRock Inc. now owns 136,648 shares of the semiconductor company’s stock worth $752,000 after buying an additional 10,122 shares in the last quarter. Bailard Inc. purchased a new position in shares of Amtech Systems in the second quarter worth $149,000. Jacobs Levy Equity Management Inc. bought a new stake in Amtech Systems in the second quarter worth $85,000. Finally, OLD Second National Bank of Aurora increased its position in Amtech Systems by 107.4% in the second quarter. OLD Second National Bank of Aurora now owns 7,313 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 3,787 shares during the last quarter. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

Amtech Systems Company Profile

Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating solar cells, light-emitting diodes (LEDs), and semiconductor devices in the United States, Europe, China, Malaysia, Taiwan, Germany, the Netherlands, France, and internationally. The company operates through three segments: Solar, Semiconductor, and Polishing.

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