Amtech Systems Up 9.3%, Hits 52-Week High (ASYS)

Shares of Amtech Systems, Inc. ASYS are trading up 9.3% at $18.88 per share during the Monday morning trading session. The day's trading range for shares of Amtech Systems, Inc has been between $18.52 and a 52-week high of $20.73 per share. Analysts covering the company's stock give it a consensus price target of $15.63 per share. Volume of 675,000 shares is already nearly triple the daily average volume of 237,000 shares. Amtech Systems, Inc. (ASYS)announced on Monday morning that it beat consensus Wall Street expectations. Amtech Systems, Inc announced 4th quarter earnings per share of 58 cents, on revenue that jumped 288% to $45.41 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 34 cents per share, on revenue of $38.61 million. Amtech Systems, Inc forecast full-year 2011 revenue of over $200 million. Chief Executive Officer J.S. Whang said, “Our fiscal fourth quarter results include record revenue and order bookings, along with very strong bottom line results, that are all improvements over our very strong fiscal third quarter. These results demonstrate our operational capability to manage and service the record-breaking order momentum and profitably manage our rapid growth. We are very pleased with the significant increase in orders for our solar diffusion systems, our core competency, that we are generating from our substantial and growing solar customer base that includes an increasing number of new customers, further expanding our market share. We remain on track to continue to produce and ship at a high volume in the December quarter. We continue to have a healthy order pipeline and remain focused on successful execution of our solar growth strategy. With $94 million in backlog and continued order momentum, we expect 2011 to be another record year for Amtech.” Read more from Benzinga's Company news.