Zacks Investment Research upgraded shares of Amtech Systems (NASDAQ:ASYS) from a hold rating to a strong-buy rating in a report released on Monday morning, Zacks.com reports. Zacks Investment Research currently has $6.00 price objective on the semiconductor company’s stock.
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. “
Amtech Systems stock opened at $5.13 on Monday. The firm has a 50-day moving average price of $5.73 and a 200-day moving average price of $5.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.44 and a current ratio of 3.34. Amtech Systems has a 12-month low of $4.03 and a 12-month high of $7.18.
Institutional investors and hedge funds have recently bought and sold shares of the stock. OLD Second National Bank of Aurora lifted its stake in shares of Amtech Systems by 107.4% in the 2nd quarter. OLD Second National Bank of Aurora now owns 7,313 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 3,787 shares during the period. Two Sigma Investments LP acquired a new position in shares of Amtech Systems in the 4th quarter valued at $50,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Amtech Systems in the 2nd quarter valued at $85,000. Bank of New York Mellon Corp lifted its stake in shares of Amtech Systems by 31.3% in the 4th quarter. Bank of New York Mellon Corp now owns 20,171 shares of the semiconductor company’s stock valued at $91,000 after purchasing an additional 4,804 shares during the period. Finally, Bailard Inc. acquired a new position in shares of Amtech Systems in the 2nd quarter valued at $149,000. Hedge funds and other institutional investors own 56.09% of the company’s stock.
About Amtech Systems
Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating solar cells, light-emitting diodes (LEDs), and semiconductor devices in the United States, Europe, China, Malaysia, Taiwan, Germany, the Netherlands, France, and internationally. The company operates through three segments: Solar, Semiconductor, and Polishing.
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