Camtek (NASDAQ:CAMT) Reaches New 1-Year High – Still a Buy?

Camtek Ltd. (NASDAQ:CAMT) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $176.00 and last traded at $171.13, with a volume of 46003 shares traded. The stock had previously closed at $172.25.

Analysts Set New Price Targets

A number of research analysts have weighed in on CAMT shares. Barclays boosted their price objective on shares of Camtek from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. B. Riley Financial upped their price target on shares of Camtek from $145.00 to $175.00 and gave the company a “buy” rating in a report on Monday, January 26th. Oppenheimer increased their price objective on shares of Camtek from $120.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, February 19th. Evercore reissued an “outperform” rating and issued a $190.00 price objective on shares of Camtek in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded Camtek from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.92.

Camtek Stock Performance

The firm has a market cap of $7.69 billion, a PE ratio of 179.35, a price-to-earnings-growth ratio of 3.94 and a beta of 1.53. The business has a 50 day simple moving average of $152.40 and a two-hundred day simple moving average of $123.41. The company has a quick ratio of 7.31, a current ratio of 8.35 and a debt-to-equity ratio of 0.84.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings results on Wednesday, February 18th. The semiconductor company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The company had revenue of $128.12 million during the quarter, compared to the consensus estimate of $127.10 million. Camtek had a return on equity of 23.61% and a net margin of 10.23%.The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. As a group, equities research analysts forecast that Camtek Ltd. will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

A number of institutional investors have recently modified their holdings of CAMT. Jefferies Financial Group Inc. purchased a new stake in shares of Camtek during the 2nd quarter worth $338,000. SG Americas Securities LLC bought a new stake in shares of Camtek in the 3rd quarter valued at about $1,503,000. Brown Capital Management LLC boosted its holdings in shares of Camtek by 1.2% in the 3rd quarter. Brown Capital Management LLC now owns 1,153,943 shares of the semiconductor company’s stock valued at $121,222,000 after buying an additional 13,806 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Camtek by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,079,022 shares of the semiconductor company’s stock worth $113,454,000 after buying an additional 15,432 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Camtek by 18.9% in the 2nd quarter. Legal & General Group Plc now owns 117,163 shares of the semiconductor company’s stock worth $10,103,000 after buying an additional 18,584 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

Camtek Company Profile

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.