Amtech Systems, Inc. (NASDAQ:ASYS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage currently has a $14.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.94% from the stock’s previous close.

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. “

Several other equities research analysts also recently issued reports on ASYS. 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. Finally, 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. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $12.88.

Amtech Systems (NASDAQ ASYS) traded up 1.45% during trading on Tuesday, hitting $12.62. 139,853 shares of the company traded hands. Amtech Systems has a 12-month low of $3.99 and a 12-month high of $13.06. The stock has a 50-day moving average price of $11.32 and a 200-day moving average price of $8.72. The firm has a market capitalization of $168.31 million, a P/E ratio of 108.79 and a beta of 2.11.

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

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A number of large investors have recently made changes to their positions in ASYS. Dimensional Fund Advisors LP grew its stake in Amtech Systems by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 413,982 shares of the semiconductor company’s stock valued at $2,277,000 after purchasing an additional 21,630 shares during the period. Renaissance Technologies LLC grew its stake in Amtech Systems by 6.6% in the 1st quarter. Renaissance Technologies LLC now owns 105,736 shares of the semiconductor company’s stock valued at $582,000 after purchasing an additional 6,500 shares during the period. Ironwood Investment Management LLC grew its stake in Amtech Systems by 6.4% in the 1st quarter. Ironwood Investment Management LLC now owns 39,978 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 2,398 shares during the period. Janney Montgomery Scott LLC grew its stake in Amtech Systems by 219.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 123,412 shares of the semiconductor company’s stock valued at $1,042,000 after purchasing an additional 84,812 shares during the period. Finally, Algert Global LLC grew its stake in Amtech Systems by 149.7% in the 2nd quarter. Algert Global LLC now owns 66,572 shares of the semiconductor company’s stock valued at $562,000 after purchasing an additional 39,912 shares during the period. Hedge funds and other institutional investors own 49.99% of the company’s stock.

Amtech Systems Company Profile

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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