Roth MKM keeps Buy on Amtech Systems, trims price target to $11

Roth MKM lowered the firm’s price target on Amtech Systems to $11 from $13 and keeps a Buy rating on the shares. The firm notes Amtech reported weak Q3 revenue, and gave guidance below forecasts. Orders have decelerated on semiconductor industry weakness, and management said persistent low demand for advanced packaging and SMT products is only partially offset by high demand for Amtech’s high-temp belt furnaces. Roth will look for evidence of improving sales momentum and would be an opportunistic buyer on weakness.