NEW YORK (
) -TheStreet Ratings' stock model upgraded
to 'Buy' from 'Hold'. Net income at this $125 million market cap, semiconductor equipment company jumped to $3.9 million in fiscal third quarter from a loss in the year earlier quarter.
TheStreet Ratings released rating changes on 21 additional U.S. common stocks for August 23, 2010. In total, seven stocks were downgraded and 15 stocks have been upgraded by our stock model.
Gross sales at Amtech Systems were a record $43 million in the fiscal third quarter of 2010, up 244% from the year earlier quarter. The company is riding the crest of record orders of their solar power manufacturing equipment.
Heading the other direction, being downgraded to 'Hold' from 'Buy', is
. This $19.5 billion market capitalization, health insurance company, shrank its top-line revenue by 6.2% to $14.5 billion in the second quarter over the same quarter last year. State insurance regulators, such as California, have pushed back against WellPoint's attempt to raise health premiums.
-- Reported by Kevin Baker in Jupiter, Fla.
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Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.