Workflow
Amtech Systems(ASYS)
icon
Search documents
Fast-paced Momentum Stock Amtech (ASYS) Is Still Trading at a Bargain
ZACKS· 2025-08-22 13:50
Core Viewpoint - Momentum investing focuses on "buying high and selling higher," contrasting with traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Characteristics - Momentum investing can be risky as stocks may lose momentum when their valuations exceed future growth potential, leading to potential losses for investors [2] - Investing in bargain stocks that exhibit recent price momentum can be a safer strategy, utilizing tools like the Zacks Momentum Style Score to identify promising stocks [3] Group 2: Amtech Systems (ASYS) Analysis - Amtech Systems (ASYS) has shown significant price momentum, with a four-week price change of 15.7% and a 12-week gain of 31.1%, indicating strong investor interest [4][5] - ASYS has a beta of 1.59, suggesting it moves 59% more than the market, reflecting its fast-paced momentum [5] - The stock has a Momentum Score of B, indicating a favorable entry point for investors looking to capitalize on its momentum [6] Group 3: Earnings Estimates and Valuation - ASYS has received upward revisions in earnings estimates, earning a Zacks Rank 1 (Strong Buy), which typically attracts more investor interest and drives price increases [7] - The stock is currently trading at a Price-to-Sales ratio of 0.93, suggesting it is undervalued, as investors pay only 93 cents for each dollar of sales [7] Group 4: Additional Investment Opportunities - Besides ASYS, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting additional investment opportunities [8]
Amtech Systems(ASYS) - 2025 Q3 - Earnings Call Transcript
2025-08-06 22:00
Financial Data and Key Metrics Changes - The company reported revenue of $19.6 million for the third fiscal quarter of 2025, representing a 26% increase over the prior quarter, but a 27% decrease compared to the same period last year [5][12] - Adjusted EBITDA was $2.2 million, benefiting from a nonrecurring employee retention credit, while normalized gross margin improved to 41.5% from 36.5% in the previous year [5][13] - GAAP net income for the quarter was $100,000 or $0.01 per share, compared to a net loss of $31.8 million or $2.23 per share in the preceding quarter [14] Business Line Data and Key Metrics Changes - The Thermal Processing Solutions segment saw significant growth, particularly in AI-related equipment, which accounted for about 25% of its revenue, with a fivefold increase in revenue from AI equipment year-over-year [6][7] - The Semiconductor Fabrication Solutions segment experienced weak demand for front-end equipment tied to mature node applications, although performance modestly exceeded expectations due to improved demand for consumables [8][9] Market Data and Key Metrics Changes - Revenue growth was primarily driven by strong demand in Asia for reflow ovens used in AI applications, while the mature node semiconductor market continued to show weakness [12] - The company expects continued strength in AI-related equipment sales to partially offset the softness in mature node product lines in the upcoming quarter [15][16] Company Strategy and Development Direction - The company is focused on expanding recurring revenue streams while capitalizing on opportunities in AI infrastructure, with ongoing investments in next-generation semiconductor packaging equipment [7][10] - Structural changes have been made to improve operating leverage, including consolidating manufacturing sites and optimizing the operating model, which are expected to enhance profitability [10][16] Management's Comments on Operating Environment and Future Outlook - Management noted that the near-term environment remains dynamic, with strong demand for AI-related products but weak demand for mature node products [10] - The company anticipates improved operating leverage and adjusted EBITDA margins in the mid-single digits due to previously implemented cost reductions [16] Other Important Information - The company has achieved $13 million in annualized savings through cost reduction initiatives over the past eighteen months [10] - Unrestricted cash and cash equivalents increased to $15.6 million as of June 30, 2025, compared to $11.1 million at the end of the previous fiscal year [15] Q&A Session Summary Question: No questions were raised during the Q&A session - There were no questions from participants during the call, and the session concluded without any inquiries [18]
Amtech Systems(ASYS) - 2025 Q3 - Quarterly Report
2025-08-06 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See th ...
Amtech Systems(ASYS) - 2025 Q3 - Quarterly Results
2025-08-06 20:07
EXHIBIT 99.1 Amtech Reports Third Quarter Fiscal 2025 Results TEMPE, Ariz., August 6, 2025 -- Amtech Systems, Inc. ("Amtech") (NASDAQ: ASYS), a manufacturer of equipment and consumables for semiconductor fabrication and packaging, today reported results for its third quarter ended June 30, 2025. Third Quarter Fiscal 2025 Financial and Operational Results: (1) See GAAP to non-GAAP and EBITDA and Adjusted EBITDA reconciliation in schedules following this release. "I'm pleased to report that our third quarter ...
Amtech Systems(ASYS) - 2025 Q2 - Earnings Call Transcript
2025-05-12 22:02
Financial Data and Key Metrics Changes - For the fiscal second quarter of 2025, net revenue was $15.6 million, representing a decrease of 36% from fiscal Q1 and a decrease of 39% from the second quarter of fiscal 2024, primarily due to a customer dispute that delayed shipment of a $4.9 million order [17] - The GAAP net loss for the second quarter was $31.8 million or $2.23 per share, compared to a GAAP net income of $0.3 million or $0.02 per share for the preceding quarter [20] - Adjusted EBITDA was negative $1.4 million for fiscal Q2 2025, compared to $1.9 million for the preceding quarter [21] Business Line Data and Key Metrics Changes - The Thermal Processing Solutions segment experienced a shipment delay due to a customer dispute, impacting revenue [5] - The Semiconductor Fabrication Solutions segment saw stabilization with a book-to-bill ratio slightly above one, while demand for mature node applications remained weak [17][18] - Advanced packaging equipment bookings exceeded total bookings for all of fiscal 2024, driven by strong demand in AI applications [9] Market Data and Key Metrics Changes - There was a broader softening in demand within the mature node semiconductor market, affecting both equipment and consumables [6][7] - Orders for reflow equipment in the U.S. were weak due to high tariffs, but this was offset by strength in Asia for AI-related advanced packaging equipment [10] Company Strategy and Development Direction - The company is focusing on expanding recurring revenue streams, including consumables, parts, and services, which offer higher margins and more stable revenue [10][11] - Strategic optimization efforts are expected to yield incremental EBITDA savings of $1 million per quarter starting in Q4 2025, with total annualized savings anticipated to be $11 million [12][23] - The company aims to leverage its technologies to address challenges in adjacent applications and expand its customer base [11][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth despite near-term challenges, emphasizing the importance of operational efficiency and cost structure optimization [12][14] - The company is closely monitoring the evolving tariff and macroeconomic landscape, expecting potential benefits from U.S. manufacturing repatriation [9][33] Other Important Information - The company recorded an impairment charge of $22.9 million and an inventory write-off of $6 million in the second fiscal quarter due to prolonged weakness in the mature node semiconductor market [8][18] - Unrestricted cash and cash equivalents at the end of the quarter were $13.4 million, providing financial flexibility for strategic initiatives [21][23] Q&A Session Summary Question: Impact of U.S.-China trade disputes on business activity - Management noted that the impact of tariffs on the Semiconductor Fabrication Solutions business was minimal, as most products are produced in the U.S. [31] - For back-end equipment, weak orders were observed due to tariffs, but strong demand in Asia was noted [32][34] Question: Insights on R&D spending and technology contributions - Management highlighted the importance of advanced packaging and thermal management challenges, indicating a potential expansion of the addressable market for their technologies [36][37] - The company is actively engaged with customers to solve leading-edge problems, which could drive new growth opportunities [38] Question: Current margin profile of existing backlog - Management confirmed that the current margin profile of the existing backlog is above recent levels, with improved margins expected as volume increases [42][43] Question: Specific products driving strong demand for advanced packaging - The primary demand is for reflow equipment used in advanced packaging, particularly for AI applications [44][45] Question: Revenue from spares and service - Approximately 25% of the Thermal Process Solutions segment revenue comes from parts and service [46][47]
Amtech Systems(ASYS) - 2025 Q2 - Earnings Call Transcript
2025-05-12 22:00
Financial Data and Key Metrics Changes - For the fiscal second quarter of 2025, net revenue was $15.6 million, representing a decrease of 36% from fiscal Q1 and a decrease of 39% from the second quarter of fiscal 2024, primarily due to a customer dispute that delayed shipment of a $4.9 million order [16][19] - GAAP net loss for the second quarter was $31.8 million or $2.23 per share, compared to a GAAP net income of $0.3 million or $0.02 per share for the preceding quarter [19] - Adjusted EBITDA was negative $1.4 million for fiscal Q2 2025, compared to $1.9 million for the preceding quarter [20] Business Line Data and Key Metrics Changes - The Thermal Processing Solutions segment experienced a shipment delay due to a customer dispute, impacting revenue [5] - The Semiconductor Fabrication Solutions segment saw stabilization with a book-to-bill ratio slightly above one, indicating improved order intake [16] - Advanced packaging equipment bookings exceeded total bookings for all of fiscal 2024, driven by strong demand in AI applications [9][16] Market Data and Key Metrics Changes - There was a broader softening in demand within the mature node semiconductor market, affecting both equipment and consumables [6] - Orders for reflow equipment in the U.S. were weak due to high tariffs, but this was offset by strength in Asia for AI-related advanced packaging equipment [10][31] - The company noted a sustained downturn in capital investment across industrial and automotive sectors [6] Company Strategy and Development Direction - The company is focusing on operational efficiency and broadening its customer and application base to navigate the current demand headwinds [6][11] - There is an emphasis on expanding recurring revenue streams, including consumables, parts, and services, which offer higher margins and more stable revenue [10][14] - The company is pursuing a semi fabless operating model, including headcount reductions and optimized manufacturing resources [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth despite near-term challenges, citing a strong cash position of $13.4 million and a disciplined financial strategy [12][20] - The company anticipates total annualized savings of $11 million on a run rate basis as it exits the fiscal year [12] - Management highlighted the potential benefits of U.S. policies aimed at repatriating semiconductor manufacturing, which could provide tailwinds for the business [32] Other Important Information - The company recorded an impairment charge of $22.9 million and an inventory write-off of $6 million in the second fiscal quarter due to prolonged weakness in the mature node semiconductor market [7][17] - Non-GAAP gross margin for the second quarter was 36%, compared to 34% in the same prior year period, driven by fixed cost reductions and product mix [17] Q&A Session Summary Question: Impact of U.S.-China trade disputes on business activity - Management noted that the impact of tariffs on the Semiconductor Fabrication Solutions segment was minimal, as most products are produced in the U.S. for the U.S. market [30] - There is hope for positive tailwinds from repatriating manufacturing to the U.S., which could benefit the company [32] Question: Insights on silicon carbide power semiconductor industry - Management discussed the potential for advanced packaging technologies to drive growth, particularly in thermal management challenges for AI GPUs [36][37] Question: Current margin profile of existing backlog - Management confirmed that the current margin profile of the existing backlog is near historic levels, indicating improved profitability potential [40][41] Question: Specific products driving strong demand for advanced packaging - The primary demand is for reflow equipment used in advanced packaging, particularly for AI applications [43] Question: Revenue from spares and service - Approximately 25% of the Thermal Process Solutions segment revenue comes from parts and service [45]
Amtech Systems(ASYS) - 2025 Q2 - Quarterly Report
2025-05-12 20:02
Financial Performance - Total net revenue for the three months ended March 31, 2025, was $15.6 million, a decrease of approximately $9.9 million or 39% compared to $25.4 million in the same period of 2024[96] - Gross margin for the three months ended March 31, 2025, was negative $0.3 million, representing (2)% of net revenue, a decrease from $8.5 million or 33% of net revenue in the same period of 2024[99] - New orders for the three months ended March 31, 2025, totaled $15.7 million, a decrease of $4.1 million or 21% from $19.8 million in the same period of 2024[98] - Cash provided by operating activities for the six months ended March 31, 2025, was $3.1 million, down from $5.3 million in the same period of 2024[116] - Cash used in investing activities was $0.2 million for the six months ended March 31, 2025, compared to $0.7 million provided in the same period of 2024[117] - Cash provided by financing activities was $0.1 million for the six months ended March 31, 2025, primarily from stock option exercises, contrasting with $6.4 million used in the same period of 2024[118] Backlog and Working Capital - The backlog as of March 31, 2025, was $19.1 million, a decrease of $25.2 million or 57% compared to $44.3 million in 2024[98] - Working capital decreased to $37.4 million as of March 31, 2025, from $44.8 million as of September 30, 2024[114] - Unrecorded purchase obligations decreased to $5.2 million as of March 31, 2025, from $12.1 million as of September 30, 2024[120] Expenses - Research and development expenses for the three months ended March 31, 2025, were 5% of net revenue, compared to 4% in the same period of 2024[94] - Selling, general and administrative expenses for the three months ended March 31, 2025, were $7.1 million, a decrease from $8.3 million in the same period of 2024[102] - RD&E expenses for the six months ended March 31, 2025, decreased to $1.7 million from $2.5 million in the same period of 2024, reflecting a reduction in strategic-development project expenditures[104] Impairments - Goodwill impairment recognized during the six months ended March 31, 2025, totaled $20.4 million, with $15.4 million from the Semiconductor Fabrication Solutions segment and $5.0 million from the Thermal Processing Solutions segment[105] - Intangible asset impairment for the six months ended March 31, 2025, amounted to $2.6 million, recorded within operating expenses[107] Cash and Cash Equivalents - Cash and cash equivalents increased to $13.4 million as of March 31, 2025, from $11.1 million at the beginning of the period[113] Tax Rate - The effective tax rate for the six months ended March 31, 2025, was (2.3%), compared to (3.5%) for the same period in 2024, influenced by foreign income taxation and non-deductible expenses[111] Strategic Initiatives - The acquisition of Entrepix in 2023 enhanced the company's offerings in the CMP technology space and integrated wafer cleaning into existing product lines[90] - The company plans to continue pursuing organic growth alongside acquisitions to bolster its market position[92] - The introduction of the next-generation reflow platform, Aurora, is part of the company's ongoing investment in research and development[90] - The company is focusing on supply chain resiliency by expanding operations outside of mainland China, which is expected to create demand for new equipment and services[91]
Amtech Systems(ASYS) - 2025 Q2 - Quarterly Results
2025-05-12 20:03
Financial Guidance - Amtech Systems, Inc. updated its financial guidance for Q2 fiscal 2025 on April 9, 2025[6] Company Information - The company is listed on the Nasdaq Global Select Market under the symbol ASYS[5] - The press release regarding the financial update is included as Exhibit 99.1[9]
Amtech Stock Plunges 17% in 6 Months: Should You Buy the Dip?
ZACKS· 2025-03-26 16:15
Core Viewpoint - Amtech Systems (ASYS) has experienced a significant decline in share price, down 16.9% over the past six months, underperforming both the broader technology sector and its industry peers, raising questions about whether it is a time to exit or a buying opportunity [1][2]. Company Performance - The underperformance of ASYS is attributed to broader market weaknesses and specific company challenges, including a sell-off in tech stocks due to trade tensions and economic slowdown [3]. - Company-specific issues include a prolonged downturn in the automotive market affecting equipment sales and muted demand in the mature node semiconductor production market, leading to a 2% year-over-year revenue decline to $24.4 million in Q1 of fiscal 2025 [4]. Macroeconomic Challenges - ASYS faces macroeconomic pressures such as persistent inflation and high interest rates, which are causing enterprise customers to delay orders, negatively impacting investor sentiment [5]. Strategic Initiatives - Amtech is undertaking restructuring and cost optimization initiatives, achieving over $8 million in annualized cost savings, with a target of $9 million by the end of Q2 fiscal 2025 [10]. - The company is focusing on advanced packaging opportunities, particularly in AI infrastructure, which is expected to drive demand for its reflow equipment [8]. Market Outlook - The advanced semiconductor packaging market is projected to grow from $34.8 billion in 2025 to $47.98 billion by 2030, with a CAGR of 6.63%, providing a favorable backdrop for ASYS [7]. - Amtech anticipates revenues of $21-$23 million for Q2 fiscal 2025, reflecting confidence in growth driven by investments in AI-related packaging [9]. Profitability Enhancements - Ongoing pricing actions are being implemented to counter inflation and improve product margins, with expectations of significant margin improvements in subsequent quarters [13]. - The company is also optimizing its supply chain and operational footprint to reduce costs and enhance efficiency [12]. Investment Recommendation - Given the strong fundamentals, favorable industry trends, and strategic initiatives, ASYS is viewed as a compelling buying opportunity for investors [15][16].
Amtech (ASYS) Stock Jumps 5.5%: Will It Continue to Soar?
ZACKS· 2025-03-24 16:16
Group 1: Amtech Systems (ASYS) - Amtech Systems shares increased by 5.5% to close at $5.17, following notable trading volume, despite a 13.9% loss over the past four weeks [1] - The company is benefiting from restructuring initiatives, cost optimization, and increasing demand for advanced packaging and AI infrastructure applications [1] - The consensus EPS estimate for the upcoming quarter remains unchanged, with expectations of a quarterly loss of $0.02 per share, reflecting a year-over-year change of -100% and projected revenues of $21.5 million, down 15.5% from the previous year [2][4] Group 2: STMicroelectronics (STM) - STMicroelectronics closed the last trading session at $24.01, down 1.6%, and has experienced a -13.5% return over the past month [4] - The consensus EPS estimate for STM has remained unchanged at $0.05, representing a -90.7% change from the previous year [5] - STMicroelectronics currently holds a Zacks Rank of 5 (Strong Sell) [5]