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

Wall Street Zen cut shares of Amtech Systems (NASDAQ:ASYS) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Several other brokerages also recently issued reports on ASYS. Zacks Research downgraded Amtech Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Lake Street Capital initiated coverage on Amtech Systems in a research report on Tuesday, October 20th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Weiss Ratings cut Amtech Systems from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Amtech Systems Stock Up 1.8%

Shares of NASDAQ:ASYS opened at $12.64 on Friday. The company has a market cap of $221.33 million, a PE ratio of 42.83 and a beta of 2.09. Amtech Systems has a fifty-two week low of $6.75 and a fifty-two week high of $25.71. The firm has a 50-day simple moving average of $15.11 and a 200 day simple moving average of $16.07.

Amtech Systems (NASDAQ:ASYS) last issued its 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. The firm had revenue of $22.38 million for the quarter, compared to analysts’ expectations of $21.50 million. Amtech Systems had a net margin of 4.90% and a return on equity of 6.33%. As a group, research analysts forecast that Amtech Systems will post 0.33 EPS for the current fiscal year.

Insider Activity

In related news, CFO Thomas Sabol bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $14.13 per share, for a total transaction of $28,260.00. Following the transaction, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at approximately $28,260. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Guy Shechter bought 3,450 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $14.34 per share, with a total value of $49,473.00. Following the transaction, the chief executive officer directly owned 53,450 shares in the company, valued at $766,473. This represents a 6.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 26.90% of the company’s stock.

Institutional Trading of Amtech Systems

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

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.