Zacks Investment Research Downgrades Camtek Ltd. (CAMT) to Hold
Camtek Ltd. (NASDAQ:CAMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek’s automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry. “
CAMT has been the subject of a number of other reports. B. Riley restated a “buy” rating and issued a $3.25 price objective on shares of Camtek in a report on Monday, July 25th. TheStreet upgraded shares of Camtek from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. Finally, Needham & Company LLC boosted their price objective on shares of Camtek from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $3.42.
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Camtek (NASDAQ:CAMT) traded down 1.67% during trading on Tuesday, hitting $2.95. The stock had a trading volume of 152,566 shares. The company has a 50-day moving average price of $2.80 and a 200-day moving average price of $2.36. The company’s market cap is $104.28 million. Camtek has a 52-week low of $1.58 and a 52-week high of $3.20.
Camtek (NASDAQ:CAMT) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Camtek had a negative net margin of 9.15% and a positive return on equity of 7.58%. The company earned $27.30 million during the quarter, compared to analyst estimates of $26.05 million. Equities research analysts forecast that Camtek will post $0.17 EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Algert Global LLC raised its stake in shares of Camtek by 24.2% in the third quarter. Algert Global LLC now owns 112,365 shares of the company’s stock worth $338,000 after buying an additional 21,895 shares in the last quarter. Grandeur Peak Global Advisors LLC bought a new stake in shares of Camtek during the second quarter worth $360,000. Renaissance Technologies LLC raised its stake in shares of Camtek by 8.3% in the first quarter. Renaissance Technologies LLC now owns 663,200 shares of the company’s stock worth $1,313,000 after buying an additional 50,600 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Camtek by 1.0% in the first quarter. Kennedy Capital Management Inc. now owns 375,043 shares of the company’s stock worth $743,000 after buying an additional 3,761 shares in the last quarter. Finally, Menta Capital LLC raised its stake in shares of Camtek by 24.6% in the first quarter. Menta Capital LLC now owns 69,971 shares of the company’s stock worth $139,000 after buying an additional 13,828 shares in the last quarter. Institutional investors and hedge funds own 13.73% of the company’s stock.
Camtek Company Profile
Camtek Ltd. provides automated and technological solutions for production processes and products yield, enabling and supporting customers’ technologies in the semiconductor fabrication and printed circuit board (PCB) industries. The Company designs, develops, manufactures and markets products mainly based on two core technologies: automated optical inspection (AOI) and functional ink technology (FIT).
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