Lord Abbett & CO. LLC Takes Position in Camtek Ltd. (NASDAQ:CAMT)

Lord Abbett & CO. LLC bought a new stake in shares of Camtek Ltd. (NASDAQ:CAMT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 656,878 shares of the semiconductor company’s stock, valued at approximately $55,026,000. Lord Abbett & CO. LLC owned 1.46% of Camtek as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of Camtek by 574.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 445 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 379 shares during the period. USA Financial Formulas grew its position in shares of Camtek by 1,436.2% during the 4th quarter. USA Financial Formulas now owns 722 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 675 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Camtek during the 1st quarter valued at about $50,000. Russell Investments Group Ltd. grew its position in shares of Camtek by 524.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 1,238 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Camtek by 17.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the semiconductor company’s stock valued at $158,000 after acquiring an additional 340 shares during the period. 41.93% of the stock is currently owned by institutional investors and hedge funds.

Camtek Trading Down 3.2 %

Shares of CAMT stock traded down $3.58 during trading on Friday, hitting $108.48. 398,428 shares of the stock traded hands, compared to its average volume of 471,936. The firm has a market capitalization of $4.87 billion, a P/E ratio of 63.31, a price-to-earnings-growth ratio of 2.44 and a beta of 1.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.66 and a quick ratio of 3.08. The firm’s fifty day moving average price is $113.99 and its 200-day moving average price is $91.31. Camtek Ltd. has a 52-week low of $41.15 and a 52-week high of $140.50.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $97.01 million for the quarter, compared to analyst estimates of $93.75 million. Camtek had a net margin of 25.35% and a return on equity of 20.94%. As a group, research analysts forecast that Camtek Ltd. will post 2.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on CAMT. Needham & Company LLC raised their target price on Camtek from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Jefferies Financial Group initiated coverage on Camtek in a report on Monday, May 13th. They issued a “buy” rating and a $120.00 price objective on the stock. Northland Securities cut Camtek from an “outperform” rating to a “market perform” rating in a report on Thursday, May 16th. Northland Capmk cut Camtek from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, B. Riley raised their target price on shares of Camtek from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.63.

About Camtek

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.