Camtek (NASDAQ:CAMT) Trading 8.3% Higher – Here’s Why
by Kim Johansen · The Markets DailyCamtek Ltd. (NASDAQ:CAMT – Get Free Report) was up 8.3% on Friday . The company traded as high as $115.00 and last traded at $115.1650. Approximately 18,568 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 312,706 shares. The stock had previously closed at $106.35.
Analyst Ratings Changes
A number of research firms recently issued reports on CAMT. Morgan Stanley assumed coverage on Camtek in a research report on Monday, December 1st. They set an “equal weight” rating and a $110.00 price objective for the company. B. Riley raised their price target on Camtek from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Bank of America upgraded Camtek from a “neutral” rating to a “buy” rating and lifted their price target for the company from $95.00 to $135.00 in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Camtek in a research note on Monday. Finally, Evercore ISI raised their price objective on shares of Camtek from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.00.
Get Our Latest Stock Analysis on CAMT
Camtek Stock Performance
The stock has a fifty day moving average price of $110.34 and a 200 day moving average price of $99.25. The company has a current ratio of 7.58, a quick ratio of 6.52 and a debt-to-equity ratio of 0.90. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 127.17, a price-to-earnings-growth ratio of 2.36 and a beta of 1.55.
Hedge Funds Weigh In On Camtek
A number of institutional investors have recently modified their holdings of CAMT. Raymond James Financial Inc. lifted its stake in shares of Camtek by 55.7% in the first quarter. Raymond James Financial Inc. now owns 83,544 shares of the semiconductor company’s stock worth $4,898,000 after buying an additional 29,880 shares during the last quarter. State of Wyoming grew its stake in Camtek by 111.0% in the 1st quarter. State of Wyoming now owns 4,264 shares of the semiconductor company’s stock valued at $250,000 after buying an additional 2,243 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Camtek by 85.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 55,761 shares of the semiconductor company’s stock worth $3,186,000 after acquiring an additional 25,623 shares during the period. Vident Advisory LLC raised its holdings in Camtek by 13.6% in the 1st quarter. Vident Advisory LLC now owns 7,281 shares of the semiconductor company’s stock worth $427,000 after acquiring an additional 870 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Camtek by 61.6% during the 1st quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 293 shares during the last quarter. Institutional investors own 41.93% of the company’s stock.
About Camtek
Camtek Ltd. (NASDAQ: CAMT) is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.
Camtek’s core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.