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Semiconductor production equipment provider Amtech Systems (NASDAQ:ASYS) will be announcing earnings results tomorrow afternoon. Here’s what investors should know.
Amtech beat analysts’ revenue expectations by 10.8% last quarter, reporting revenues of $26.75 million, down 13% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EPS and adjusted operating income estimates.
Is Amtech a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Amtech’s revenue to decline 14.3% year on year to $23.75 million, in line with the 14.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amtech has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Amtech’s peers in the semiconductor manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Marvell Technology delivered year-on-year revenue growth of 6.9%, beating analysts’ expectations by 4%, and Semtech reported revenues up 17.9%, topping estimates by 2%. Marvell Technology traded up 23.1% following the results while Semtech was also up 17.5%.
Read our full analysis of Marvell Technology’s results here and Semtech’s results here.
Investors in the semiconductor manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. Amtech is up 3.8% during the same time and is heading into earnings with an average analyst price target of $6 (compared to the current share price of $5.95).
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