Zacks Investment Research Downgrades Amtech Systems (ASYS) to Sell
Amtech Systems (NASDAQ:ASYS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
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. “
A number of other brokerages have also issued reports on ASYS. ValuEngine upgraded shares of Amtech Systems from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Benchmark reiterated a “buy” rating and set a $18.00 price target (up from $12.00) on shares of Amtech Systems in a research note on Tuesday, November 21st. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Amtech Systems presently has an average rating of “Buy” and a consensus price target of $14.88.
In related news, insider Jong S. Whang sold 18,600 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $12.54, for a total transaction of $233,244.00. Following the sale, the insider now directly owns 53,066 shares in the company, valued at $665,447.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Garnreiter sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $10.00, for a total transaction of $50,000.00. Following the sale, the director now owns 5,000 shares in the company, valued at $50,000. The disclosure for this sale can be found here. Insiders have sold 144,292 shares of company stock worth $1,857,068 over the last quarter. Insiders own 34.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in shares of Amtech Systems by 1.1% during the second 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. Virtu KCG Holdings LLC increased its stake in shares of Amtech Systems by 14.6% during the second quarter. Virtu KCG Holdings LLC now owns 14,268 shares of the semiconductor company’s stock worth $120,000 after buying an additional 1,813 shares during the period. Nationwide Fund Advisors boosted its holdings in Amtech Systems by 427.8% in the third quarter. Nationwide Fund Advisors now owns 9,500 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 7,700 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Amtech Systems by 1,331.9% in the third quarter. JPMorgan Chase & Co. now owns 8,878 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 8,258 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Amtech Systems in the third quarter valued at approximately $102,000. Hedge funds and other institutional investors own 59.27% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Zacks Investment Research Downgrades Amtech Systems (ASYS) to Sell” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/08/zacks-investment-research-downgrades-amtech-systems-asys-to-sell.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Amtech Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amtech Systems and related companies with MarketBeat.com's FREE daily email newsletter.