Camtek (NASDAQ:CAMT) Shares Gap Up – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s share price gapped up prior to trading on Wednesday. The stock had previously closed at $142.78, but opened at $147.97. Camtek shares last traded at $136.2310, with a volume of 398,839 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Camtek in a report on Tuesday, August 11th. Stifel Nicolaus set a $170.00 price objective on shares of Camtek in a research report on Monday, August 10th. Morgan Stanley cut their price objective on shares of Camtek from $165.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $175.00 price objective on shares of Camtek in a research note on Tuesday, September 22nd. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Camtek presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.75.

Camtek Stock Performance

The business has a 50-day moving average price of $149.18 and a 200-day moving average price of $160.74. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 212.31, a P/E/G ratio of 3.18 and a beta of 1.56. The company has a quick ratio of 6.58, a current ratio of 7.38 and a debt-to-equity ratio of 0.69.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $133.24 million during the quarter, compared to analyst estimates of $130.44 million. Camtek had a return on equity of 21.58% and a net margin of 7.40%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. As a group, sell-side analysts forecast that Camtek Ltd. will post 3.27 earnings per share for the current year.

Insider Activity

In related news, Director Lior Aviram sold 3,347 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $162.99, for a total transaction of $545,527.53. Following the transaction, the director directly owned 15,865 shares of the company’s stock, valued at $2,585,836.35. This represents a 17.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karni Yarl Andorn sold 3,176 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $164.40, for a total value of $522,134.40. Following the transaction, the director directly owned 1,343 shares in the company, valued at $220,789.20. This represents a 70.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,843 shares of company stock worth $4,514,249 over the last quarter. Company insiders own 79.40% of the company’s stock.

Institutional Investors Weigh In On Camtek

A number of large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Camtek by 576.7% during the second quarter. IFP Advisors Inc now owns 203 shares of the semiconductor company’s stock worth $33,000 after buying an additional 173 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Camtek during the first quarter valued at $42,000. EverSource Wealth Advisors LLC increased its position in shares of Camtek by 46.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Compass Financial Management LLC acquired a new position in shares of Camtek in the 2nd quarter valued at $57,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Camtek in the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 41.93% of the company’s stock.

Camtek Company Profile

Camtek Ltd. (NASDAQ: CAMT) is an Israel-based provider of inspection and metrology systems used in semiconductor manufacturing. The company develops equipment and software designed to identify defects, measure wafer and package characteristics, and support process control during the production of integrated circuits.

Camtek’s product portfolio serves a range of applications, including advanced packaging, heterogeneous integration, chiplets, memory, foundry and logic manufacturing, and other high-density semiconductor processes.