Semiconductor production equipment provider Amtech Systems (NASDAQ: ASYS) will be reporting earnings this Wednesday afternoon. Here’s what to look for.
Amtech beat analysts’ revenue expectations last quarter, reporting revenues of $20.47 million, up 31.4% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ operating income estimates.
Is Amtech a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Amtech’s revenue to grow 9.9% year on year, a reversal from the 26.9% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Amtech has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Amtech’s peers in the semiconductor manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. FormFactor delivered year-on-year revenue growth of 31.9%, beating analysts’ expectations by 7.6%, and Teradyne reported revenues up 104%, topping estimates by 9.4%. FormFactor traded up 26.3% following the results while Teradyne’s stock price was unchanged.
Read our full analysis of FormFactor’s results here and Teradyne’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the semiconductor manufacturing stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 10.5% on average over the last month. Amtech is down 14.9% during the same time and is heading into earnings with an average analyst price target of $22 (compared to the current share price of $16).
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