Amtech Systems, Inc. (ASYS)
NASDAQ:ASYS
Want to see ASYS full AI Analyst Report?
Top Page
Amtech Systems
(NASDAQ:ASYS)
Select Model
Select Model
Rating:69Neutral
Price Target:
$23.50
▲(44.97% Upside)
Action:Reiterated
Date:05/09/26
ASYS scores well on improving fundamentals (return to profitability and strong free cash flow) and a very constructive earnings outlook (AI-driven growth, expanding margins, bookings strength). The main offsets are a rich valuation (P/E ~36) and a technically extended setup (RSI ~74), plus the company’s recent history of sharp earnings cyclicality.
Positive Factors
Gross margin expansion & profitability
Sustained gross margin expansion reflects better product mix and operating leverage. Combined with a return to TTM profitability and improved net margin, higher gross margins bolster long-term cash generation capacity and provide a margin buffer through semiconductor cycles.
Negative Factors
Earnings cyclicality
Historic swings in profitability and revenue show the business remains exposed to cyclical demand and order timing. Such volatility complicates capital allocation, planning, and sustaining margin improvements absent a longer track record of stable, multi-quarter bookings.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin expansion & profitability
Sustained gross margin expansion reflects better product mix and operating leverage. Combined with a return to TTM profitability and improved net margin, higher gross margins bolster long-term cash generation capacity and provide a margin buffer through semiconductor cycles.
Read all positive factors
Amtech Systems (ASYS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$320.14M
Dividend YieldN/A
Average Volume (3M)298.17K
Price to Earnings (P/E)36.1
Beta (1Y)1.03
Revenue Growth-13.20%
EPS GrowthN/A
CountryUS
Employees328
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.17
Shares Outstanding14,499,088
10 Day Avg. Volume312,874
30 Day Avg. Volume298,167
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)2.48
Price to Sales (P/S)1.67
P/FCF Ratio19.12
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue3.99
Enterprise Value/Gross Profit8.69
Enterprise Value/Ebitda43.41
Forecast
1Y Price Target
$22.00Price Target Upside35.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.25
Revenue Forecast (FY)$80.00M
Amtech Systems Business Overview & Revenue Model
Company Description
Amtech Systems, Inc. manufactures and sells capital equipment and related consumables for use in fabricating silicon carbide (SiC), silicon power devices, analog and discrete devices, electronic assemblies, and light-emitting diodes (LEDs) worldwi...
How the Company Makes Money
Amtech Systems makes money primarily by selling specialized manufacturing equipment (capital equipment) used by semiconductor and advanced materials producers. Revenue is generated from (1) equipment/system sales, where customers purchase tools an...
Amtech Systems Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call was decidedly positive: strong revenue growth (+30% YoY, +8% QoQ), improved gross margins (~+300 bps), an adjusted EBITDA beat ($2.5M, ~12% of sales), rising cash ($24.4M) and very strong AI-driven bookings and mix shift (AI >30% of TPS revenue, expected >40% in Q3). Recurring parts & service growth and operational improvements (semi-fabless model, higher capacity with minimal CapEx) support sustainable margin expansion. Headwinds are present but manageable: weakness in specific PR Hoffman products (SiC customers), limited historical visibility due to short lead times (improving), modest FX losses ($0.3M), incremental SG&A and inventory, and potential component price pressure. Overall, positives materially outweigh the negatives.Positive Updates
Revenue Growth
Total revenue of $20.5 million in Q2 fiscal 2026, up over 30% year-over-year and up 8% sequentially.
Negative Updates
Weakness in PR Hoffman Products (SiC Customer Demand)
Sales of PR Hoffman products were weak due to reduced demand from major silicon carbide customers, masking some of the gains in SFS despite overall SFS revenue growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Total revenue of $20.5 million in Q2 fiscal 2026, up over 30% year-over-year and up 8% sequentially.
Read all positive updates
Company Guidance
Management guided fiscal Q3 revenue of $20.5 million to $22.5 million (midpoint $21.5M), calling that a meaningful year‑over‑year and sequential increase versus Q2 revenue of $20.5M (Q2 was up >30% YoY and +8% sequential); they said AI will drive the bulk of growth (AI was >30% of TPS revenue in Q2 and is anticipated to be as much as ~40% of TPS in Q3), bookings have exceeded sales for two consecutive quarters, and adjusted EBITDA is expected to expand to the low double‑digits (Q2 adjusted EBITDA was $2.5M, ~12% of sales) supported by higher gross margins (~47.7–48%), cash of $24.4M (up $2.3M sequential and $11M YoY), no debt, an unused $5M share‑buyback authorization, and minimal near‑term CapEx needs given current capacity (~9 reflow systems/week) under the semi‑fabless model.Amtech Systems Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
67
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 78.84M | 79.36M | 101.21M | 113.31M | 106.30M | 85.20M |
| Gross Profit | 36.21M | 26.98M | 36.23M | 35.55M | 39.51M | 34.53M |
| EBITDA | 7.25M | -25.22M | -3.92M | -9.65M | 20.68M | 5.07M |
| Net Income | 1.99M | -30.33M | -8.49M | -12.58M | 17.37M | 1.51M |
Balance Sheet | ||||||
| Total Assets | 97.40M | 92.87M | 119.31M | 137.02M | 133.53M | 116.91M |
| Cash, Cash Equivalents and Short-Term Investments | 24.42M | 17.90M | 11.09M | 13.13M | 46.87M | 32.84M |
| Total Debt | 18.75M | 19.51M | 17.57M | 32.89M | 12.15M | 18.12M |
| Total Liabilities | 41.40M | 39.49M | 36.95M | 48.66M | 35.17M | 31.28M |
| Stockholders Equity | 56.00M | 53.38M | 82.36M | 88.36M | 98.37M | 85.63M |
Cash Flow | ||||||
| Free Cash Flow | 9.72M | 6.93M | 4.96M | -10.60M | 4.07M | -8.97M |
| Operating Cash Flow | 11.00M | 7.88M | 9.84M | -7.70M | 5.20M | -5.96M |
| Investing Cash Flow | -1.24M | -912.00K | -2.18M | -37.83M | 18.77M | -8.09M |
| Financing Cash Flow | 446.00K | 270.00K | -10.63M | 11.74M | -8.27M | 1.17M |
Amtech Systems Technical Analysis
Positive
16.21
Price Trends
15.95
Positive
14.94
Positive
11.58
Positive
Market Momentum
1.46
Positive
63.77
Neutral
56.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASYS, the sentiment is Positive. The current price of 16.21 is below the 20-day moving average (MA) of 19.43, above the 50-day MA of 15.95, and above the 200-day MA of 11.58, indicating a bullish trend. The MACD of 1.46 indicates Positive momentum. The RSI at 63.77 is Neutral, neither overbought nor oversold. The STOCH value of 56.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ASYS.
Amtech Systems Risk Analysis
Amtech Systems disclosed 31 risk factors in its most recent earnings report. Amtech Systems reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amtech Systems Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $320.14M | 36.05 | 3.70% | ― | -13.20% | ― | |
62 Neutral | $235.46M | 53.00 | 0.57% | ― | -5.04% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $9.21B | -468.85 | -6.21% | ― | -0.14% | 25.60% | |
59 Neutral | $349.56M | -12.35 | -21.96% | ― | 22.44% | 1.58% | |
58 Neutral | $357.74M | -5.53 | -84.79% | ― | -40.50% | 1.62% | |
54 Neutral | $201.15M | -5.48 | -10.13% | ― | -20.64% | 44.67% |
* Technology Sector Average
ASYS
Amtech Systems
22.08
17.93
432.05%
AXTI
AXT
140.83
139.29
9044.81%
GSIT
GSI Technology
9.66
6.36
192.73%
INTT
inTEST
18.74
12.69
209.75%
MX
MagnaChip
5.52
1.84
50.00%
ATOM
Atomera
9.24
2.22
31.62%
Amtech Systems Corporate Events
Executive/Board Changes
Amtech Systems Names Guy Shechter President and COO
Positive
May 7, 2026
On May 5, 2026, Amtech Systems, Inc. appointed industry veteran Guy Shechter as its President and Chief Operating Officer, effective May 19, 2026, reporting to the CEO. Shechter brings extensive experience from leadership roles at Yield Engineerin...
Business Operations and StrategyExecutive/Board Changes
Amtech Systems Appoints Veteran Thomas Sabol as CFO
Positive
Apr 30, 2026
On April 24, 2026, Amtech Systems’ board approved the appointment of veteran finance executive Thomas Sabol as Chief Financial Officer, effective May 14, 2026, succeeding interim CFO Mark Weaver and also making Sabol the company’s prin...
Executive/Board ChangesShareholder Meetings
Amtech Shareholders Back Board, Auditor and Executive Pay
Positive
Mar 6, 2026
On March 4, 2026, Amtech Systems, Inc. held its 2026 Annual Meeting of Shareholders, with 72.73% of the 14,394,885 eligible common shares represented in person or by proxy. Shareholders elected five directors, including Robert C. Daigle and Michae...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.