Amtech Systems (NASDAQ:ASYS) Downgraded by Wall Street Zen to Hold

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

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

Amtech Systems Trading Up 0.6%

Shares of NASDAQ:ASYS opened at $12.42 on Friday. The stock has a fifty day simple moving average of $15.09 and a two-hundred day simple moving average of $17.29. Amtech Systems has a 12-month low of $6.75 and a 12-month high of $25.71. The stock has a market capitalization of $217.45 million, a price-to-earnings ratio of 47.77 and a beta of 2.09.

Amtech Systems (NASDAQ:ASYS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Amtech Systems had a return on equity of 6.33% and a net margin of 4.90%. The firm had revenue of $22.38 million for the quarter, compared to analysts’ expectations of $21.50 million. As a group, equities research analysts predict that Amtech Systems will post 0.33 EPS for the current year.

Insider Transactions at Amtech Systems

In related news, CFO Thomas B. Sabol purchased 2,000 shares of Amtech Systems stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $14.13 per share, for a total transaction of $28,260.00. Following the completion of the purchase, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at $28,260. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Guy Shechter acquired 3,450 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of $14.34 per share, with a total value of $49,473.00. Following the completion of the acquisition, the chief executive officer directly owned 53,450 shares of the company’s stock, valued at $766,473. The trade was a 6.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 26.90% of the company’s stock.

Institutional Investors Weigh In On Amtech Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASYS. Walleye Capital LLC bought a new position in shares of Amtech Systems in the 1st quarter worth approximately $142,000. Bank of America Corp DE raised its position in Amtech Systems by 28,941.0% in the first quarter. Bank of America Corp DE now owns 22,652 shares of the semiconductor company’s stock worth $265,000 after acquiring an additional 22,574 shares during the period. State of Wyoming bought a new position in Amtech Systems in the first quarter worth approximately $277,000. Hillsdale Investment Management Inc. bought a new position in Amtech Systems in the first quarter worth approximately $296,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Amtech Systems by 84.2% during the 1st quarter. NewEdge Advisors LLC now owns 26,891 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 12,291 shares during the last quarter. Hedge funds and other institutional investors own 50.21% of the company’s stock.

Amtech Systems Company Profile

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.