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ASYS Amtech Systems

Amtech Systems, Inc. engages in the manufacture of capital equipment. It specializes in thermal processing and wafer handling automation, and related consumables used in fabricating semiconductor devices, light-emitting diodes, silicon carbide and silicon power chips, and solar cells. It operates through the following business segments: SiC/LED, Semiconductor, and Automation. The SiC/LED segment produces consumables and machinery for lapping (fine abrading) and polishing of materials, such as sapphire substrates, optical components, silicon wafers, numerous types of crystal materials, ceramics and metal components. The Semiconductor segment offers thermal processing equipment including solder reflow equipment and related controls and diffusion for use by semiconductor manufacturers, and in electronics assembly for automotive and other industries. The Automation segment supplies solar and semiconductor automation with in-house design and manufacturing capabilities and offer a full array of single wafer transfer tools as well as batch transfer tools and stocker options. The company was founded by Jong S. Whang in October 1981 and is headquartered in Tempe, AZ.

Company profile

Ticker
ASYS
Exchange
CEO
Michael Whang
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
860411215

ASYS stock data

(
)

Calendar

11 Feb 21
17 Apr 21
30 Sep 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18 Sep 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 45.61M 45.61M 45.61M 45.61M 45.61M 45.61M
Cash burn (monthly) (positive/no burn) 1.19M (positive/no burn) 118.17K (positive/no burn) 116K
Cash used (since last report) n/a 4.24M n/a 421.69K n/a 413.96K
Cash remaining n/a 41.37M n/a 45.19M n/a 45.2M
Runway (months of cash) n/a 34.8 n/a 382.4 n/a 389.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 Mar 21 Sukesh Mohan Amtech Systems, Inc. Non-Employee Director Stock Option Amtech Systems, Inc. $0.01 par value common stock Grant Aquire A No No 11.51 6,000 69.06K 6,000
23 Mar 21 Robert M Averick Common Stock Grant Aquire A No No 11.51 6,000 69.06K 6,000
23 Mar 21 Michael Garnreiter Amtech Systems, Inc. Non-Employee Director Stock Option Amtech Systems, Inc. $0.01 par value common stock Grant Aquire A No No 11.51 6,000 69.06K 6,000
3 Dec 20 Robert F King Amtech Systems, Inc. $.01 par value common stock Sell Dispose S No No 6.75 6,200 41.85K 2,000
3 Dec 20 Robert F King Amtech Systems, Inc. $.01 par value common stock Sell Dispose S No No 6.9 24,000 165.6K 8,200
3 Dec 20 Robert F King Amtech Systems, Inc. $.01 par value common stock Option exercise Aquire M No No 5.75 4,000 23K 32,200
3 Dec 20 Robert F King Amtech Systems, Inc. $.01 par value common stock Option exercise Aquire M No No 4.9 6,000 29.4K 28,200
3 Dec 20 Robert F King Amtech Systems, Inc. $.01 par value common stock Option exercise Aquire M No No 4.77 6,000 28.62K 22,200
3 Dec 20 Robert F King Amtech Systems, Inc. $.01 par value common stock Option exercise Aquire M No No 2.95 4,000 11.8K 16,200
3 Dec 20 Robert F King Amtech Systems, Inc. $.01 par value common stock Option exercise Aquire M No No 5.25 4,000 21K 12,200

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

51.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 42 45 -6.7%
Opened positions 6 7 -14.3%
Closed positions 9 7 +28.6%
Increased positions 11 11
Reduced positions 15 17 -11.8%
13F shares
Current Prev Q Change
Total value 46.8M 33.73M +38.7%
Total shares 7.34M 6.9M +6.3%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Dimensional Fund Advisors 1.1M $7.03M -3.6%
Pacific Ridge Capital Partners 899.44K $5.74M +20.4%
Harbert Fund Advisors 840.35K $5.36M +1.2%
Vanguard 776.53K $4.95M -14.4%
Brandywine Global Investment Management 581.4K $3.71M +1.6%
Royce & Associates 538.67K $3.44M -10.0%
Russell Investments 419.22K $2.67M +415.8%
Roumell Asset Management 403.39K $2.57M 0.0%
Ancora Advisors 207K $1.32M -9.2%
Renaissance Technologies 185.46K $1.18M +24.6%
Largest transactions
Shares Bought/sold Change
Russell Investments 419.22K +337.93K +415.8%
Essex Investment Management 162.86K +162.86K NEW
Pacific Ridge Capital Partners 899.44K +152.19K +20.4%
Vanguard 776.53K -130.66K -14.4%
Boston Partners 103.51K +73.87K +249.3%
White Pine Capital 80.28K +61.65K +330.8%
Royce & Associates 538.67K -59.83K -10.0%
California Public Employees Retirement System 23.27K -59.74K -72.0%
Dimensional Fund Advisors 1.1M -40.73K -3.6%
Renaissance Technologies 185.46K +36.6K +24.6%

Financial report summary

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Competition
CVD Equipment
Risks
  • There is ongoing volatility in the semiconductor equipment industry.
  • The semiconductor equipment industry is highly competitive and, because we are relatively small in size and have fewer financial and other resources compared to our competitors, we may not be able to compete successfully with them.
  • Business interruptions, including those related to the novel strain of the coronavirus (COVID-19), have had and continue to have an adverse impact on our operations, including among others, our manufacturing and supply chain, sales and product development and could have an adverse impact on our business, financial condition and results of operations in future quarterly periods.
  • We may not be able to generate sufficient cash flows or obtain access to external financing necessary to fund existing operations and planned expansions.
  • Acquisitions can result in an increase in our operating costs, divert management’s attention away from other operational matters and expose us to other risks.
  • Our reliance on sales to a few major customers, often on credit terms, places us at financial risk.
  • Our customers could cancel or fail to accept a large system order.
  • Manufacturing interruptions or delays could affect our ability to meet customer demand and lead to higher costs.
  • Because we depend on revenue from international customers, our business may be adversely affected by changes in the economies and policies of the countries or regions in which we do business.
  • Our business may be adversely affected by significant exchange rate fluctuations.
  • We are exposed to risks associated with an uncertain global economy.
  • Our inability to attract, train and retain effective employees and management could harm our business.
  • If we fail to maintain optimal inventory levels, our inventory obsolescence costs could increase, our liquidity could be significantly reduced or our revenue could decrease.
  • Supplier capacity constraints, supplier production disruptions, supplier quality issues or price increases could increase our operating costs and adversely impact the competitive positions of our products.
  • We might fail to develop adequate internal organizational structures, internal controls and risk monitoring and management systems for an organization of our scale.
  • Unsatisfactory performance of, or defects in, our products may cause us to incur additional warranty expenses, damage our reputation and cause our sales to decline.
  • We may incur impairment charges to goodwill or long-lived assets.
  • Our income taxes are subject to variables beyond our control.
  • Our officers, directors and largest shareholders could choose to act in their best interests and not necessarily those of our other shareholders.
  • Information security breaches or failures of our information technology systems may have a negative impact on our operations and our reputation.
  • Natural disasters, outbreaks of infectious diseases, terrorist attacks, wars and threats of war may negatively impact our operations, revenue, costs and stock price.
  • Our business may be adversely affected by changes in or failure to comply with foreign and domestic laws.
  • We are subject to U.S. and certain non-U.S. anti-corruption/anti-bribery, export and import controls, sanctions, embargoes, anti-money laundering, anti-terrorist financing, and other similar laws and regulations. Compliance with these legal standards could impair our ability to compete in domestic and international markets. We can face criminal liability and other serious consequences for violations of these laws and regulations which can harm our business.
  • The United States could withdraw from or materially modify certain international trade agreements, or change tariff, trade, or tax provisions related to the global manufacturing and sales of our products in ways that we currently cannot predict.
  • We are subject to environmental regulations, and our inability or failure to comply with these regulations could result in significant costs or the suspension of our ability to operate portions of our business.
  • We face the risk of product liability claims or other litigation, which could be expensive and may divert management’s attention from running our business.
  • We may not be able to keep pace with the rapid change in the technology needed to meet customer requirements.
  • Our research and development investments may not result in timely new products that can be sold at favorable prices and obtain market acceptance.
  • Third parties may violate our proprietary rights, in which we have made significant investments, resulting in a loss of value of some of our intellectual property or costly litigation.
  • We may face intellectual property infringement claims that could be time-consuming and costly to defend and could result in our loss of significant rights and the assessment of treble damages.
  • Our results of operations are difficult to predict, and, we have experienced, and may continue to experience, significant volatility in our stock price as a result.
  • Future sales of our common stock by us or our existing shareholders could depress the market price of our common stock.
  • If securities analysts do not publish research or reports about our business or if they downgrade our stock, the price of our stock could decline.
Management Discussion
  • Net revenue consists of revenue recognized upon shipment or installation of equipment, with the exception of products using new technology, for which revenue is recognized upon customer acceptance. Spare parts sales are recognized upon shipment and service revenue is recognized upon completion of the service activity, which is generally ratable over the term of the service contract. Since the majority of our revenue is generated from large system sales, revenue and operating income can be significantly impacted by the timing of system shipments and system acceptances.  See “Critical Accounting Policies – Revenue Recognition” included in the “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations”.
Content analysis
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Positive
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Constraining
Legalese
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Readability
H.S. freshman Avg
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Removed: accretive, acquired, adjustment, announcing, ASU, Beginning, building, carry, comparison, component, conducted, crystalline, departure, emerge, Excluding, expand, FASB, focused, forward, furnace, guidance, half, hereto, integrate, intended, merger, mm, package, photovoltaic, pivot, positioned, practical, predicted, reaction, reclassified, recording, referred, removed, resulted, retire, retrospective, revised, skillset, standard, strain, summary, Topic, transition, treat, work, Wuhan