Zacks Investment Research Lowers Amtech Systems (NASDAQ:ASYS) to Hold

Zacks Investment Research cut shares of Amtech Systems (NASDAQ:ASYS) from a strong-buy rating to a hold rating in a report released on Thursday, Zacks.com reports.

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 opened at $5.02 on Thursday. The firm has a market cap of $73.19 million, a price-to-earnings ratio of 8.81 and a beta of 2.17. Amtech Systems has a fifty-two week low of $4.03 and a fifty-two week high of $7.18. The company’s 50-day moving average price is $5.73 and its 200 day moving average price is $5.70. The company has a quick ratio of 2.44, a current ratio of 3.34 and a debt-to-equity ratio of 0.06.

Amtech Systems (NASDAQ:ASYS) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $21.00 million for the quarter, compared to analyst estimates of $19.69 million. Amtech Systems had a negative net margin of 14.93% and a negative return on equity of 3.60%. Amtech Systems’s quarterly revenue was down 26.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Research analysts anticipate that Amtech Systems will post 0.16 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Amtech Systems by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,261,386 shares of the semiconductor company’s stock worth $5,714,000 after acquiring an additional 10,562 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in Amtech Systems by 2.0% during the second quarter. Pacific Ridge Capital Partners LLC now owns 729,514 shares of the semiconductor company’s stock worth $4,012,000 after acquiring an additional 14,366 shares during the period. BlackRock Inc. increased its stake in shares of Amtech Systems by 8.0% in the second quarter. BlackRock Inc. now owns 136,648 shares of the semiconductor company’s stock valued at $752,000 after purchasing an additional 10,122 shares during the period. Bailard Inc. acquired a new stake in shares of Amtech Systems in the second quarter valued at approximately $149,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Amtech Systems by 31.3% in the fourth quarter. Bank of New York Mellon Corp now owns 20,171 shares of the semiconductor company’s stock valued at $91,000 after purchasing an additional 4,804 shares during the period. Hedge funds and other institutional investors own 56.09% of the company’s stock.

About Amtech Systems

Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating solar cells, light-emitting diodes (LEDs), and semiconductor devices in the United States, Europe, China, Malaysia, Taiwan, Germany, the Netherlands, France, and internationally. The company operates through three segments: Solar, Semiconductor, and Polishing.

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