Camtek (NASDAQ:CAMT) Trading 9.2% Higher on Analyst Upgrade

Camtek Ltd. (NASDAQ:CAMT) shares were up 9.2% during trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $70.00 to $80.00. Cantor Fitzgerald currently has a neutral rating on the stock. Camtek traded as high as $81.85 and last traded at $81.75. Approximately 827,311 shares were traded during trading, an increase of 49% from the average daily volume of 556,316 shares. The stock had previously closed at $74.85.

Several other brokerages also recently commented on CAMT. Needham & Company LLC cut their target price on Camtek from $110.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Northland Securities set a $105.00 target price on Camtek in a report on Wednesday, May 14th. B. Riley boosted their price objective on Camtek from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Bank of America cut their target price on Camtek from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Evercore ISI cut their target price on Camtek from $100.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 14th. Two analysts have rated the stock with 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.com, Camtek presently has an average rating of “Moderate Buy” and an average target price of $88.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAMT. Wasatch Advisors LP boosted its holdings in Camtek by 311.8% in the fourth quarter. Wasatch Advisors LP now owns 1,192,784 shares of the semiconductor company’s stock worth $96,341,000 after acquiring an additional 903,126 shares in the last quarter. Menora Mivtachim Holdings LTD. boosted its holdings in Camtek by 81.8% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,566,433 shares of the semiconductor company’s stock worth $126,521,000 after acquiring an additional 705,000 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Camtek by 110.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,015,307 shares of the semiconductor company’s stock worth $59,527,000 after acquiring an additional 532,944 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Camtek by 27.8% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,134,671 shares of the semiconductor company’s stock worth $123,622,000 after acquiring an additional 464,671 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Camtek in the fourth quarter worth approximately $30,956,000. Institutional investors own 41.93% of the company’s stock.

Camtek Trading Up 0.7%

The firm has a fifty day simple moving average of $68.80 and a 200-day simple moving average of $74.43. The firm has a market cap of $3.74 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.28 and a quick ratio of 4.27.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The firm had revenue of $118.64 million during the quarter, compared to the consensus estimate of $119.00 million. Camtek had a return on equity of 24.57% and a net margin of 28.40%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. On average, equities research analysts expect that Camtek Ltd. will post 2.93 earnings per share for the current year.

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.