Amtech Systems, Inc. (NASDAQ:ASYS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $16.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.68% 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 have also weighed in on ASYS. Benchmark Co. restated a “buy” rating and issued a $12.00 target price on shares of Amtech Systems in a report on Thursday, August 10th. Cowen and Company set a $14.00 target price on Amtech Systems and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Roth Capital began coverage on Amtech Systems in a report on Friday, August 4th. They issued a “buy” rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.38.

Amtech Systems (ASYS) traded down 0.42% during mid-day trading on Tuesday, reaching $14.20. 165,940 shares of the company were exchanged. The stock’s 50-day moving average is $12.30 and its 200-day moving average is $9.33. Amtech Systems has a 12 month low of $3.99 and a 12 month high of $15.45. The company has a market cap of $189.39 million, a P/E ratio of 122.41 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, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.30. The business had revenue of $47.76 million during the quarter, compared to analyst estimates of $40.40 million. Amtech Systems had a return on equity of 2.34% and a net margin of 1.00%. The firm’s revenue was up 43.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. Equities analysts expect that Amtech Systems will post $0.23 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of ASYS. Dimensional Fund Advisors LP increased its position 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 worth $2,277,000 after buying an additional 21,630 shares during the period. Renaissance Technologies LLC increased its position in Amtech Systems by 6.6% in the 1st quarter. Renaissance Technologies LLC now owns 105,736 shares of the semiconductor company’s stock worth $582,000 after buying an additional 6,500 shares during the period. Janney Montgomery Scott LLC increased its position 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 worth $1,042,000 after buying an additional 84,812 shares during the period. Algert Global LLC increased its position in Amtech Systems by 149.7% in the 2nd quarter. Algert Global LLC now owns 66,572 shares of the semiconductor company’s stock worth $562,000 after buying an additional 39,912 shares during the period. Finally, Northern Trust Corp increased its position in Amtech Systems by 1.1% in the 2nd quarter. Northern Trust Corp now owns 21,797 shares of the semiconductor company’s stock worth $184,000 after buying an additional 242 shares during the period. 50.37% of the stock is currently owned by 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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