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

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

Several other research analysts have also weighed in on the company. Weiss Ratings raised Amtech Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 31st. Zacks Research lowered Amtech Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Amtech Systems Price Performance

NASDAQ ASYS opened at $13.85 on Monday. The firm has a market capitalization of $242.51 million, a price-to-earnings ratio of 53.27 and a beta of 2.01. The company has a 50 day simple moving average of $15.69 and a 200-day simple moving average of $16.77. Amtech Systems has a 52-week low of $6.75 and a 52-week high of $25.71.

Amtech Systems (NASDAQ:ASYS) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Amtech Systems had a net margin of 4.90% and a return on equity of 6.33%. The firm had revenue of $22.38 million for the quarter, compared to the consensus estimate of $21.50 million. On average, analysts predict that Amtech Systems will post 0.33 EPS for the current year.

Insider Transactions at Amtech Systems

In related news, CEO Guy Shechter bought 3,450 shares of Amtech Systems stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average cost of $14.34 per share, for a total transaction of $49,473.00. Following the acquisition, the chief executive officer owned 53,450 shares in the company, valued at $766,473. This trade represents a 6.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas B. Sabol bought 2,000 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were bought at an average cost of $14.13 per share, with a total value 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 trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 26.90% of the company’s stock.

Institutional Trading of Amtech Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP lifted its holdings in shares of Amtech Systems by 2.6% during the second quarter. Engineers Gate Manager LP now owns 38,552 shares of the semiconductor company’s stock valued at $890,000 after acquiring an additional 972 shares during the period. Empowered Funds LLC grew its holdings in shares of Amtech Systems by 9.5% in the 1st quarter. Empowered Funds LLC now owns 32,318 shares of the semiconductor company’s stock worth $377,000 after purchasing an additional 2,800 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Amtech Systems during the 1st quarter worth about $142,000. NewEdge Advisors LLC increased its position 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 purchasing an additional 12,291 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Amtech Systems by 5.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 365,387 shares of the semiconductor company’s stock valued at $4,268,000 after purchasing an additional 18,354 shares during the last quarter. 50.21% of the stock is currently owned by institutional investors and hedge funds.

About Amtech Systems

Amtech Systems, Inc is a semiconductor equipment manufacturer that designs, develops and produces thermal processing systems used in the fabrication of semiconductor devices. Its equipment is intended for applications including wafer processing, diffusion, oxidation, annealing and other high-temperature manufacturing steps.

The company’s product portfolio has included batch and single-wafer processing systems, rapid thermal processing equipment, and related automation, controls and aftermarket services.