Amtech Systems, Inc. (NASDAQ:ASYS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.

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. “

ASYS has been the subject of a number of other reports. Roth Capital initiated coverage on Amtech Systems in a report on Friday, August 4th. They set a “buy” rating and a $12.00 price target for the company. Cowen and Company set a $14.00 price target on Amtech Systems and gave the stock a “buy” rating in a report on Wednesday, August 9th. Benchmark Co. reiterated a “buy” rating and set a $12.00 price target on shares of Amtech Systems in a report on Thursday, August 10th. Finally, ValuEngine upgraded Amtech Systems from a “sell” rating to a “hold” rating in a report on Thursday, June 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $12.63.

Shares of Amtech Systems (NASDAQ ASYS) opened at 12.54 on Tuesday. Amtech Systems has a 52-week low of $3.99 and a 52-week high of $13.06. The stock’s 50 day moving average price is $11.12 and its 200 day moving average price is $8.54. The company has a market capitalization of $167.25 million, a P/E ratio of 108.10 and a beta of 2.11.

Amtech Systems (NASDAQ:ASYS) last released its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.30. The business had revenue of $47.76 million during the quarter, compared to analysts’ expectations of $40.40 million. Amtech Systems had a return on equity of 2.34% and a net margin of 1.00%. The company’s revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities research analysts forecast that Amtech Systems will post $0.23 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of ASYS. Janney Montgomery Scott LLC lifted its stake in Amtech Systems by 219.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 123,412 shares of the semiconductor company’s stock worth $1,042,000 after acquiring an additional 84,812 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Amtech Systems by 12.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 466,683 shares of the semiconductor company’s stock worth $3,939,000 after acquiring an additional 52,701 shares in the last quarter. EAM Investors LLC acquired a new position in Amtech Systems during the 2nd quarter worth about $435,000. Algert Global LLC lifted its stake in Amtech Systems by 149.7% during the 2nd quarter. Algert Global LLC now owns 66,572 shares of the semiconductor company’s stock worth $562,000 after acquiring an additional 39,912 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Amtech Systems during the 2nd quarter worth about $241,000. 49.99% of the stock is currently owned by hedge funds and other institutional investors.

About Amtech Systems

Amtech Systems, Inc is engaged in the manufacture of capital equipment, including thermal processing, silicon wafer handling automation and related consumables used in fabricating solar cells, Light Emitting Diode (LED) and semiconductor devices. The Company operates through three business segments: solar, semiconductor and polishing.

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