Camtek (NASDAQ:CAMT) Given New $80.00 Price Target at Needham & Company LLC

Camtek (NASDAQ:CAMT) had its price target cut by equities research analysts at Needham & Company LLC from $110.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 20.28% from the stock’s current price.

A number of other brokerages have also issued reports on CAMT. Barclays cut their price objective on shares of Camtek from $120.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. StockNews.com cut shares of Camtek from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Financial Group reduced their price target on shares of Camtek from $120.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, Bank of America reduced their price target on shares of Camtek from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Camtek has a consensus rating of “Moderate Buy” and an average target price of $92.44.

Camtek Trading Down 4.8%

Shares of CAMT opened at $66.51 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.00 and a quick ratio of 4.11. Camtek has a 1 year low of $47.41 and a 1 year high of $140.50. The company has a 50 day simple moving average of $62.99 and a two-hundred day simple moving average of $75.50. The firm has a market cap of $3.03 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). Camtek had a net margin of 27.61% and a return on equity of 24.99%. On average, equities analysts expect that Camtek will post 2.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CAMT. Wasatch Advisors LP increased its position in Camtek by 311.8% during the fourth quarter. Wasatch Advisors LP now owns 1,192,784 shares of the semiconductor company’s stock valued at $96,341,000 after acquiring an additional 903,126 shares during the last quarter. Menora Mivtachim Holdings LTD. increased its position in Camtek by 81.8% during the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,566,433 shares of the semiconductor company’s stock valued at $126,521,000 after acquiring an additional 705,000 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in Camtek by 27.8% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,134,671 shares of the semiconductor company’s stock valued at $123,622,000 after acquiring an additional 464,671 shares during the last quarter. Meitav Investment House Ltd. increased its position in Camtek by 119.3% during the fourth quarter. Meitav Investment House Ltd. now owns 818,123 shares of the semiconductor company’s stock valued at $66,159,000 after acquiring an additional 445,079 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Camtek during the fourth quarter valued at $30,956,000. Institutional investors own 41.93% of the company’s stock.

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.