Camtek (NASDAQ:CAMT) Trading 4.7% Higher – Here’s Why

by · The Markets Daily

Camtek Ltd. (NASDAQ:CAMT – Get Free Report)’s share price rose 4.7% during mid-day trading on Tuesday . The company traded as high as $82.93 and last traded at $82.86. Approximately 97,868 shares traded hands during trading, a decline of 82% from the average daily volume of 534,402 shares. The stock had previously closed at $79.16.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAMT. B. Riley decreased their price objective on Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Northland Capmk upgraded shares of Camtek from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Camtek from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Camtek in a research report on Friday, August 2nd. Finally, Northland Securities upgraded shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Camtek has a consensus rating of “Buy” and an average target price of $116.57.

Get Our Latest Report on CAMT

Camtek Stock Down 3.1 %

The firm has a market cap of $3.57 billion, a PE ratio of 44.69, a P/E/G ratio of 1.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 4.29. The business has a fifty day moving average price of $81.95 and a two-hundred day moving average price of $95.64.

Camtek (NASDAQ:CAMT – Get Free Report) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $102.60 million during the quarter, compared to analyst estimates of $101.26 million. Camtek had a net margin of 25.93% and a return on equity of 22.57%. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. On average, analysts anticipate that Camtek Ltd. will post 2.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Camtek

A number of hedge funds have recently added to or reduced their stakes in CAMT. PNC Financial Services Group Inc. grew its position in Camtek by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the semiconductor company’s stock worth $158,000 after acquiring an additional 340 shares in the last quarter. Jennison Associates LLC raised its holdings in Camtek by 383.1% during the first quarter. Jennison Associates LLC now owns 23,015 shares of the semiconductor company’s stock valued at $1,928,000 after buying an additional 18,251 shares in the last quarter. Swiss National Bank lifted its position in shares of Camtek by 1.3% in the first quarter. Swiss National Bank now owns 58,287 shares of the semiconductor company’s stock worth $4,850,000 after buying an additional 750 shares during the last quarter. Sei Investments Co. lifted its position in shares of Camtek by 41.5% in the first quarter. Sei Investments Co. now owns 94,473 shares of the semiconductor company’s stock worth $7,914,000 after buying an additional 27,707 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Camtek during the 1st quarter worth about $50,000. Institutional investors and hedge funds own 41.93% of the company’s stock.

About Camtek

(Get Free Report)

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for semiconductor industry. The company provides Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to address the challenges fanout wafer level packaging applications.

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