Camtek (NASDAQ:CAMT) Trading Down 8% – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT) fell 8% on Monday . The stock traded as low as $135.23 and last traded at $136.2040. Approximately 61,571 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 497,668 shares. The stock had previously closed at $147.97.

Analyst Upgrades and Downgrades

CAMT has been the topic of several research reports. Stifel Nicolaus set a $170.00 price target on Camtek in a research note on Monday, August 10th. Morgan Stanley lowered their price objective on Camtek from $167.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Camtek in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.25.

Camtek Stock Performance

The firm has a market cap of $6.40 billion, a P/E ratio of 214.32, a PEG ratio of 3.19 and a beta of 1.56. The stock’s 50 day moving average is $147.22 and its two-hundred day moving average is $163.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 7.38 and a quick ratio of 6.58.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $133.24 million during the quarter, compared to analysts’ expectations of $130.44 million. Camtek had a net margin of 7.40% and a return on equity of 21.58%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. As a group, equities analysts predict that Camtek Ltd. will post 3.27 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Rafi Amit sold 6,250 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $170.52, for a total value of $1,065,750.00. Following the sale, the chief executive officer owned 55,350 shares of the company’s stock, valued at $9,438,282. The trade was a 10.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ram Langer sold 6,387 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $172.32, for a total value of $1,100,607.84. Following the completion of the sale, the chief operating officer owned 17,532 shares in the company, valued at $3,021,114.24. This trade represents a 26.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,843 shares of company stock worth $4,514,249 in the last 90 days. 79.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Camtek

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in shares of Camtek by 61.6% in the 1st quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 293 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Camtek by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company’s stock valued at $8,749,000 after buying an additional 16,117 shares in the last quarter. Geode Capital Management LLC boosted its position in Camtek by 0.7% in the second quarter. Geode Capital Management LLC now owns 39,420 shares of the semiconductor company’s stock valued at $3,333,000 after buying an additional 279 shares in the last quarter. Cetera Investment Advisers grew its stake in Camtek by 4.7% during the second quarter. Cetera Investment Advisers now owns 4,841 shares of the semiconductor company’s stock worth $409,000 after buying an additional 217 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Camtek by 8.3% during the second quarter. Invesco Ltd. now owns 263,836 shares of the semiconductor company’s stock worth $22,310,000 after buying an additional 20,237 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.

About Camtek

Camtek Ltd. (NASDAQ: CAMT) is an Israel-based semiconductor equipment company that develops, manufactures and sells automated inspection and metrology systems. Its technologies are used to detect defects, measure wafer and package characteristics, and support process control during semiconductor manufacturing and advanced packaging.

The company’s product portfolio includes inspection systems for wafers, substrates and semiconductor packages, as well as metrology solutions and related software.