Amtech Systems (NASDAQ:ASYS) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Amtech Systems, Inc. (NASDAQ:ASYS) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.05 and traded as high as $18.24. Amtech Systems shares last traded at $17.87, with a volume of 612,270 shares traded.

Analyst Upgrades and Downgrades

Several research firms have commented on ASYS. Roth Capital reiterated a “buy” rating and issued a $22.00 price objective on shares of Amtech Systems in a research note on Friday, May 8th. Weiss Ratings downgraded Amtech Systems from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised Amtech Systems from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Finally, Zacks Research raised Amtech Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Amtech Systems Trading Down 5.0%

The stock’s 50-day moving average price is $20.47 and its two-hundred day moving average price is $16.05. The stock has a market capitalization of $260.19 million, a P/E ratio of 105.12 and a beta of 1.98.

Amtech Systems (NASDAQ:ASYS) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Amtech Systems had a return on equity of 5.58% and a net margin of 3.11%.The business had revenue of $20.47 million for the quarter, compared to the consensus estimate of $19.50 million. On average, equities research analysts predict that Amtech Systems, Inc. will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Amtech Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ritholtz Wealth Management bought a new stake in shares of Amtech Systems in the fourth quarter valued at approximately $497,000. Merit Financial Group LLC bought a new position in Amtech Systems in the 4th quarter worth approximately $464,000. EHP Funds Inc. purchased a new position in Amtech Systems in the 3rd quarter valued at approximately $234,000. Occudo Quantitative Strategies LP purchased a new position in Amtech Systems in the 4th quarter valued at approximately $267,000. Finally, Acadian Asset Management LLC raised its holdings in Amtech Systems by 90.8% during the 1st quarter. Acadian Asset Management LLC now owns 42,584 shares of the semiconductor company’s stock valued at $204,000 after acquiring an additional 20,264 shares during the period. Institutional investors own 50.21% of the company’s stock.

About Amtech Systems

Amtech Systems, Inc is a global supplier of capital equipment and aftermarket parts for the solar photovoltaic and semiconductor industries. The company’s solutions support key steps in wafer and cell production, offering both new machinery and spares designed to optimize yield, throughput and energy efficiency. Amtech operates through two primary segments: solar manufacturing and semiconductor & electronics packaging.

In its solar segment, Amtech provides diffusion furnaces, epitaxy reactors and plasma-enhanced chemical vapor deposition (PECVD) systems used in high-volume solar cell fabrication.