Camtek (NASDAQ:CAMT) Trading Down 7.5%

Camtek Ltd. (NASDAQ:CAMT)’s share price was down 7.5% during trading on Tuesday . The company traded as low as $84.14 and last traded at $84.16. Approximately 148,940 shares were traded during trading, a decline of 71% from the average daily volume of 522,190 shares. The stock had previously closed at $91.02.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America raised their price objective on Camtek from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Barclays raised their target price on shares of Camtek from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Northland Securities upgraded shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Monday, August 5th. Jefferies Financial Group started coverage on shares of Camtek in a research report on Monday, May 13th. They set a “buy” rating and a $120.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Camtek in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $116.57.

Camtek Price Performance

The company has a quick ratio of 4.29, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 48.03, a P/E/G ratio of 1.88 and a beta of 1.41. The business’s 50 day simple moving average is $107.47 and its 200-day simple moving average is $96.14.

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

Hedge Funds Weigh In On Camtek

Several hedge funds and other institutional investors have recently modified their holdings of the business. USA Financial Formulas grew its position in Camtek by 1,436.2% in the fourth 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 last quarter. Headlands Technologies LLC bought a new stake in shares of Camtek during the 1st quarter valued at approximately $50,000. Northwestern Mutual Wealth Management Co. increased its position in Camtek by 23,300.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 466 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Camtek by 524.6% in the 1st quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 1,238 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted 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 valued at $158,000 after buying an additional 340 shares in the last quarter. Institutional investors own 41.93% of the company’s stock.

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.