Amtech Systems, Inc. (NASDAQ:ASYS) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Amtech Systems, Inc. (NASDAQ:ASYS) from a buy rating to a hold rating in a report released on Wednesday, October 25th.

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 research firms have also recently issued reports on ASYS. Cowen and Company reiterated an outperform rating and set a $13.50 target price (up previously from $10.50) on shares of Amtech Systems in a research report on Thursday, August 10th. Benchmark Co. reiterated a buy rating and set a $12.00 target price on shares of Amtech Systems in a research report on Thursday, August 10th. Finally, Roth Capital started coverage on Amtech Systems in a research report on Friday, August 4th. They set a buy rating and a $12.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $13.38.

Amtech Systems (NASDAQ ASYS) traded down $0.30 during trading hours on Wednesday, hitting $13.11. The company had a trading volume of 125,600 shares, compared to its average volume of 123,228. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.79 and a quick ratio of 1.42. Amtech Systems has a 12-month low of $3.99 and a 12-month high of $15.45. The stock has a market capitalization of $186.56, a PE ratio of 109.25 and a beta of 2.14.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Amtech Systems during the 3rd quarter valued at approximately $102,000. JPMorgan Chase & Co. boosted its holdings in shares of Amtech Systems by 1,331.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,878 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 8,258 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of Amtech Systems by 427.8% in the 3rd quarter. Nationwide Fund Advisors now owns 9,500 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 7,700 shares during the period. Virtu KCG Holdings LLC boosted its holdings in shares of Amtech Systems by 14.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 14,268 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 1,813 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Amtech Systems in the 3rd quarter worth approximately $205,000. Institutional investors and hedge funds own 50.60% of the company’s stock.

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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