Camtek (NASDAQ:CAMT) Trading Up 6% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s share price was up 6% during mid-day trading on Wednesday . The company traded as high as $81.68 and last traded at $81.26. Approximately 128,304 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 531,582 shares. The stock had previously closed at $76.68.

Analyst Ratings Changes

A number of brokerages have commented on CAMT. Northland Securities increased their price objective on shares of Camtek from $99.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Camtek in a research note on Wednesday, November 13th. Stifel Nicolaus restated a “buy” rating and issued a $105.00 price target on shares of Camtek in a research note on Thursday, December 12th. Finally, StockNews.com raised Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Camtek presently has an average rating of “Buy” and an average price target of $109.88.

Camtek Stock Up 10.9 %

The firm’s 50 day simple moving average is $77.61 and its 200-day simple moving average is $92.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.28 and a quick ratio of 4.36. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 1.36 and a beta of 1.34.

Camtek (NASDAQ:CAMT) last announced its earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $112.30 million during the quarter, compared to analysts’ expectations of $108.51 million. Camtek had a return on equity of 24.21% and a net margin of 26.53%. The business’s revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. As a group, sell-side analysts anticipate that Camtek Ltd. will post 2.53 earnings per share for the current year.

Hedge Funds Weigh In On Camtek

A number of institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in Camtek by 78.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 329 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 145 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Camtek in the third quarter valued at about $53,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Camtek by 23,300.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after buying an additional 466 shares during the period. Gateway Wealth Partners LLC purchased a new position in shares of Camtek during the second quarter worth about $220,000. Finally, Susquehanna International Group Ltd. acquired a new position in Camtek in the 2nd quarter valued at about $237,000. 41.93% of the stock is owned by institutional investors and hedge funds.

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.