Amtech Systems (ASYS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Amtech Systems (NASDAQ:ASYS) from a hold rating to a sell rating in a report released on Wednesday morning.

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. “

A number of other brokerages have also recently issued reports on ASYS. Cowen set a $9.00 price objective on shares of Amtech Systems and gave the company a buy rating in a report on Friday, November 30th. Benchmark cut shares of Amtech Systems from a buy rating to a hold rating and set a $16.00 price objective for the company. in a report on Friday, August 10th. Roth Capital set a $5.00 price objective on shares of Amtech Systems and gave the company a hold rating in a report on Friday, August 10th. Finally, ValuEngine upgraded shares of Amtech Systems from a strong sell rating to a sell rating in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $8.69.

Shares of NASDAQ ASYS opened at $5.12 on Wednesday. The stock has a market cap of $77.49 million, a PE ratio of 9.23 and a beta of 2.06. Amtech Systems has a 1 year low of $4.25 and a 1 year high of $11.52. The company has a quick ratio of 2.42, a current ratio of 2.93 and a debt-to-equity ratio of 0.08.

Amtech Systems (NASDAQ:ASYS) last issued its quarterly earnings data on Thursday, November 29th. The semiconductor company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.44). The business had revenue of $28.83 million for the quarter, compared to analyst estimates of $27.17 million. Amtech Systems had a net margin of 3.01% and a return on equity of 8.33%. The firm’s quarterly revenue was down 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, research analysts anticipate that Amtech Systems will post -0.3 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ASYS. Royce & Associates LP boosted its holdings in Amtech Systems by 35.1% during the second quarter. Royce & Associates LP now owns 1,127,922 shares of the semiconductor company’s stock worth $6,824,000 after purchasing an additional 292,876 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Amtech Systems by 26.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,086,467 shares of the semiconductor company’s stock worth $6,574,000 after purchasing an additional 227,486 shares during the last quarter. Ancora Advisors LLC boosted its holdings in Amtech Systems by 116.5% during the third quarter. Ancora Advisors LLC now owns 281,760 shares of the semiconductor company’s stock worth $1,505,000 after purchasing an additional 151,605 shares during the last quarter. BlackRock Inc. boosted its holdings in Amtech Systems by 186.0% during the second quarter. BlackRock Inc. now owns 153,457 shares of the semiconductor company’s stock worth $929,000 after purchasing an additional 99,807 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Amtech Systems during the second quarter worth about $388,000. Institutional investors and hedge funds own 54.08% of the company’s stock.

Amtech Systems Company Profile

Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating solar cells, LED, and semiconductor devices in the United States, Asia, Europe, and internationally. It operates through Solar, Semiconductor, and Polishing segments. The Solar segment supplies thermal processing systems, including diffusion, plasma-enhanced chemical vapor deposition, and atomic layer deposition systems; and automation equipment comprising mass wafer transfer systems, sorters, long-boat transfer systems, load station elevators, buffers, and conveyers, as well as related parts and services.

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