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Amtech (ASYS) Surges 9.7%: Is This an Indication of Further Gains?

Amtech Systems (ASYS) shares ended the last trading session 9.7% higher at $10.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 27.6% gain over the past four weeks.

Amtech Systems extended its rally, driven by its winning production-scale projects. Further, solid momentum across various applications such as Silicon Carbide wafer polishing, thermal processing for EV sensors, power module substrates and battery cooling assemblies, remains a positive. Additionally, the company’s recent acquisition of Entrepix remains noteworthy.

This provider of equipment for solar panel and semiconductor makers is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of -257.1%. Revenues are expected to be $21 million, down 23.2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Amtech, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ASYS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Amtech is a member of the Zacks Semiconductor - General industry. One other stock in the same industry, Nvidia (NVDA), finished the last trading session 2.5% higher at $198.02. NVDA has returned 37.7% over the past month.

Nvidia's consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $0.81. Compared to the company's year-ago EPS, this represents a change of -38.6%. Nvidia currently boasts a Zacks Rank of #4 (Sell).

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