Semiconductor production equipment provider Amtech Systems (NASDAQ:ASYS) will be reporting earnings tomorrow afternoon. Here’s what to look for.

Amtech beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $24.11 million, down 13% year on year. It was a softer quarter for the company, with revenue guidance for next quarter missing analysts’ expectations and a significant miss of analysts’ EPS estimates.

Is Amtech a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Amtech’s revenue to decline 6.7% year on year to $23.25 million, a reversal from the 15.6% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amtech has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Amtech’s peers in the semiconductor manufacturing segment, some have already reported their Q4 results, giving us a hint as to what we can expect. KLA Corporation delivered year-on-year revenue growth of 23.7%, beating analysts’ expectations by 4.5%, and Lam Research reported revenues up 16.4%, topping estimates by 1.4%. KLA Corporation’s stock price was unchanged after the results, while Lam Research was up 7.3%.

Read our full analysis of KLA Corporation’s results here and Lam Research’s results here.

Stocks, especially growth stocks where cash flows further in the future are more important to the story, have had a good 2024. An economic soft landing (so far), the start of the Fed's rate cutting campaign, and the election of Donald Trump were positives for the market, and while some of the semiconductor manufacturing stocks have shown solid performance, the group has generally underpeformed, with share prices down 4.6% on average over the last month. Amtech is down 12% during the same time and is heading into earnings with an average analyst price target of $6 (compared to the current share price of $5).

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