Amtech Systems, Inc. (NASDAQ:ASYS) Given “Buy” Rating at Benchmark Co.
Amtech Systems, Inc. (NASDAQ:ASYS)‘s stock had its “buy” rating restated by equities researchers at Benchmark Co. in a research note issued on Thursday. They presently have a $12.00 target price on the semiconductor company’s stock. Benchmark Co.’s target price points to a potential upside of 24.48% from the company’s previous close.
The analysts wrote, “We have raised our target price from $10 to $12 which corresponds to a forward multiple of 16 after adjustment for net cash/share. Raising Target Price Rating: Buy Current Price $9.64 Price Target $12.00 52-Wk Range $3.99 – $9.68 Market Cap $127 Shares Outstanding 13.1 Average Volume (30 day) 73,692 Float 10.8 Net Cash/Share $2.20 Sector Weight Market Weight Mark Miller 925-648-2692 [email protected]/* */ FY Sep Q1 Q2 Q3 Q4 Total P/E EPS 2016A ($0.31)A ($0.11)A ($0.09)A ($0.02)A ($0.53)A 2017E ($0.00)A ($0.11)A $0.25A $0.17E $0.31E 31.1 2018E $0.26E $0.17E $0.12E $0.05E $0.60E 16.1 Revenue (m) 2016A $22.1A $22.5A $33.3A $42.4A $120.3A 2017E $29.1A $32.9A $47.8A $47.5E $157.3E 2018E $53.0E $47.5E $44.0E $39.0E $183.5E Amtech Systems (ASYS) August 10, 2017 Page 2 Analysis and Investment Recommendation Amtech’s reported net GAAP income of $0.25 per diluted share was 31 cents upside to investor expectations, while sales of $47.8 million exceeded investor expectations by $7.4 million. Strength was noted among all three segments: solar, semi, and polishing. June quarter gross margins of 32.5% were up 700 bps sequentially and 360 bps Y/Y.””
Several other research firms have also weighed in on ASYS. TheStreet upgraded shares of Amtech Systems from a “d+” rating to a “c-” rating in a research note on Monday, May 15th. Cowen and Company set a $14.00 target price on shares of Amtech Systems and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Amtech Systems from a “sell” rating to a “hold” rating and set a $8.50 target price for the company in a research note on Tuesday, May 16th. Roth Capital started coverage on shares of Amtech Systems in a research note on Friday, August 4th. They set a “buy” rating and a $12.00 target price for the company. Finally, ValuEngine upgraded shares of Amtech Systems from a “sell” rating to a “hold” rating in a research note on Thursday, June 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.63.
Amtech Systems (NASDAQ ASYS) opened at 9.64 on Thursday. The stock’s market capitalization is $127.25 million. Amtech Systems has a 12 month low of $3.99 and a 12 month high of $9.68. The firm’s 50-day moving average is $8.71 and its 200 day moving average is $7.08.
In other news, Director Robert F. King sold 4,700 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $8.68, for a total transaction of $40,796.00. Following the completion of the transaction, the director now owns 12,900 shares in the company, valued at $111,972. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Amtech Systems by 29.5% in the fourth quarter. Renaissance Technologies LLC now owns 99,236 shares of the semiconductor company’s stock valued at $422,000 after buying an additional 22,600 shares in the last quarter. Ironwood Investment Management LLC raised its position in Amtech Systems by 6.4% in the first quarter. Ironwood Investment Management LLC now owns 39,978 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 2,398 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its position in Amtech Systems by 20.3% in the first quarter. Pacific Ridge Capital Partners LLC now owns 343,037 shares of the semiconductor company’s stock valued at $1,887,000 after buying an additional 57,881 shares in the last quarter. WealthTrust Axiom LLC raised its position in Amtech Systems by 7.7% in the first quarter. WealthTrust Axiom LLC now owns 59,937 shares of the semiconductor company’s stock valued at $329,000 after buying an additional 4,308 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Amtech Systems during the first quarter valued at approximately $147,000. Institutional investors and hedge funds own 53.65% 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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