Camtek (NASDAQ:CAMT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Camtek (NASDAQ:CAMT) posted its earnings results on Thursday. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02, Briefing.com reports. The company had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $101.26 million. Camtek had a return on equity of 22.79% and a net margin of 25.93%. Camtek’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. Camtek updated its Q3 2024 guidance to EPS.

Camtek Stock Down 8.6 %

NASDAQ CAMT traded down $7.93 during mid-day trading on Friday, reaching $84.09. The stock had a trading volume of 1,489,574 shares, compared to its average volume of 902,036. Camtek has a 1 year low of $44.08 and a 1 year high of $140.50. The stock has a market cap of $3.78 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The company has a fifty day moving average price of $114.78 and a 200 day moving average price of $93.96. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.66 and a quick ratio of 3.08.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. B. Riley cut their price objective on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Camtek in a research report on Friday. Barclays lifted their price objective on Camtek from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Northland Securities cut Camtek from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 16th. Finally, Jefferies Financial Group assumed coverage on shares of Camtek in a report on Monday, May 13th. They set a “buy” rating and a $120.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.29.

Camtek Company Profile

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.