Camtek (NASDAQ:CAMT) Stock Price Down 4.2% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s share price traded down 4.2% on Monday . The company traded as low as $71.82 and last traded at $71.82. 56,689 shares were traded during mid-day trading, a decline of 89% from the average session volume of 536,869 shares. The stock had previously closed at $74.94.

Analyst Upgrades and Downgrades

CAMT has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Camtek in a research report on Wednesday, November 13th. B. Riley reduced their price target on Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. StockNews.com upgraded Camtek from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Northland Securities upped their price objective on Camtek from $99.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Northland Capmk raised shares of Camtek from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $110.57.

Camtek Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.36 and a current ratio of 5.28. The firm has a fifty day simple moving average of $78.73 and a 200-day simple moving average of $95.12. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 1.30 and a beta of 1.38.

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

Hedge Funds Weigh In On Camtek

Large investors have recently made changes to their positions in the company. Tidal Investments LLC grew its holdings in Camtek by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 20,914 shares of the semiconductor company’s stock valued at $1,670,000 after buying an additional 914 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Camtek in the third quarter valued at about $53,000. Virtu Financial LLC grew its stake in shares of Camtek by 104.7% in the third quarter. Virtu Financial LLC now owns 8,302 shares of the semiconductor company’s stock valued at $663,000 after acquiring an additional 4,247 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Camtek during the third quarter worth about $6,481,000. Finally, Y Intercept Hong Kong Ltd raised its stake in Camtek by 407.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 9,234 shares of the semiconductor company’s stock worth $737,000 after purchasing an additional 7,414 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.