Amtech Systems just downgraded at Benchmark, here’s why

Benchmark analyst Mark Miller downgraded Amtech Systems to Hold from Buy and removed the firm’s prior price target after Amtech provided a “limited business update” with lower-than-expected sales and a significant drop in the backlog. The firm is moving to Hold based on the continued expected softness in Amtech’s business and limited visibility on 2024, the analyst tells investors.