Amtech Systems, Inc. | $ASYS Stock | Shares Rise on Impressive Fiscal Q3 Results


Amtech Systems, Inc. (NASDAQ: ASYS)


Amtech Systems, Inc. (ASYS), a global company that fabricates solar cells, LED, and semiconductor devices yesterday reported their fiscal third quarter 2017 financial results.

Amtech reported a third quarter net income of $3.3 million and earnings of $0.25 per share. Amtech also reported third quarter revenues of $47.8 million.   

Amtech Systems, Inc. CEO’s  Comments

Mr. Fokko Pentinga, Chief Executive Officer of Amtech, commented, “We are pleased to report profitable growth with net revenue of $47.8 million, net income of $3.3 million, and EPS of $0.25, our best performance since our solar business unit peaked in the third and fourth fiscal quarters of 2011.  During the quarter our semiconductor segment revenue and earnings improved as the semiconductor and electronics industries are in a cycle of increased capital spending.  While all segments performed well in the quarter, we are seeing the greatest improvement in the solar growth segment. Our fiscal year-to-date orders were $183 million (solar $117 million) with a backlog at June 30, 2017 of $125.7 million, giving us good visibility for the coming quarters.” Mr. Pentinga continued, “Our n-type bi-facial solar cell technologies are driving our participation in what appears to be a technology focused buying cycle in the solar industry.  With our ongoing investment in both n-type and PERC we have continuously improved cell efficiency and production throughput with our products and technology solutions.”  PR Newswire

ASYS Technical Analysis

Amtech Systems

ASYS opened trading yesterday at $9.43 which was down from the previous day’s trading close of $9.44. ASYS closed trading yesterday at $9.64 and spiked up after market to $11.05, equivalent to a 15% increase from the closing price. Taking a look at the daily chart we can see the last time ASYS traded above these levels we have to go back to May 25th, 2015 when it traded at $11.19.

Taking a closer look at the daily chart we can see that before the spike up ASYS had already been in an overall upward trend dating back to January 23rd when it traded at $4.11. ASYS has a float of 10.86 million shares and traded 1.69 times the normal daily trading volume on Wednesday.

For day trading purposes, I would like to see ASYS open trading on Thursday above $10.50 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up.

Company Profile

Amtech Systems, Inc. manufactures and sells capital equipment and related consumables for use in fabricating solar cells, LED, and semiconductor devices primarily in the United States, Asia, Europe, and internationally. It operates in three segments: Solar, Semiconductor, and Polishing.

The Solar segment supplies thermal processing systems, including diffusion, plasma-enhanced chemical vapor deposition, and atomic layer deposition systems; and automation equipment comprising mass wafer transfer systems, sorters, long-boat transfer systems, load station elevators, buffers, and conveyers, as well as related parts and services.

The Semiconductor segment designs, manufactures, sells, and services thermal processing equipment, including solder reflow equipment and related controls for use by various semiconductor manufacturers, as well as in electronics assembly for automotive and other industries.

Its products include horizontal and vertical diffusion furnaces used to produce semiconductors, silicon wafers, and microelectromechanical systems, as well as lapping equipment, polishing templates and wafer insert carriers, mass wafer transfer systems, loaders, and sorters.

The Polishing segment provides silicon wafers for semiconductor products; sapphire substrates for LED lighting and mobile devices; silicon carbide wafers for LED and power device applications; various glass and silica components for 3D image transmission; quartz and ceramic components for telecommunications devices; and medical device components and computer hard disks under the PR Hoffman brand name.

The company sells its products through sales personnel, as well as a network of independent sales representatives and distributors. The company was formerly known as Quartz Engineering & Materials, Inc. and changed its name to Amtech Systems, Inc. in 1987. Amtech Systems, Inc. was founded in 1981 and is based in Tempe, Arizona.  Yahoo Finance