Amtech Systems (NASDAQ:ASYS) Stock Price Crosses Above 200 Day Moving Average Following Analyst Downgrade

Amtech Systems, Inc. (NASDAQ:ASYS) shares crossed above its 200-day moving average during trading on Thursday after Weiss Ratings upgraded the stock from a sell (d) rating to a sell (d+) rating. The stock has a 200-day moving average of $16.49 and traded as high as $17.56. Amtech Systems shares last traded at $17.25, with a volume of 255,579 shares traded.

Several other equities analysts have also recently commented on the stock. Wall Street Zen raised shares of Amtech Systems from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Roth Capital reissued a “buy” rating and issued a $22.00 price objective on shares of Amtech Systems in a report on Friday, May 8th. Finally, Zacks Research upgraded Amtech Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.00.

Institutional Trading of Amtech Systems

A number of institutional investors and hedge funds have recently modified their holdings of ASYS. Ritholtz Wealth Management bought a new position in shares of Amtech Systems during the fourth quarter valued at approximately $497,000. Merit Financial Group LLC acquired a new stake in shares of Amtech Systems during the 4th quarter worth approximately $464,000. Sowell Financial Services LLC bought a new stake in shares of Amtech Systems in the 4th quarter worth approximately $203,000. Bank of America Corp DE lifted its holdings in shares of Amtech Systems by 28,941.0% in the 1st quarter. Bank of America Corp DE now owns 22,652 shares of the semiconductor company’s stock worth $265,000 after purchasing an additional 22,574 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Amtech Systems by 9.5% during the 1st quarter. Empowered Funds LLC now owns 32,318 shares of the semiconductor company’s stock valued at $377,000 after purchasing an additional 2,800 shares during the period. 50.21% of the stock is owned by institutional investors and hedge funds.

Amtech Systems Trading Down 7.9%

The firm has a market cap of $231.36 million, a price-to-earnings ratio of 93.47 and a beta of 1.98. The stock has a 50-day moving average of $20.00 and a 200-day moving average of $16.49.

Amtech Systems (NASDAQ:ASYS) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $20.47 million for the quarter, compared to analyst estimates of $19.50 million. Amtech Systems had a return on equity of 5.58% and a net margin of 3.11%. As a group, research analysts expect that Amtech Systems, Inc. will post 0.24 earnings per share for the current fiscal year.

Amtech Systems Company Profile

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.