Zacks Investment Research Lowers 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 issued 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. “
A number of other equities research analysts have also commented on the company. Needham & Company LLC raised their price objective on Camtek from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, July 22nd. TheStreet upgraded Camtek from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Finally, B. Riley restated a “buy” rating and set a $3.25 price objective on shares of Camtek in a research report on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $3.42.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/zacks-investment-research-lowers-camtek-ltd-camt-to-hold.html
Camtek (NASDAQ:CAMT) traded down 1.67% during trading on Tuesday, hitting $2.95. The stock had a trading volume of 152,566 shares. Camtek has a 52 week low of $1.58 and a 52 week high of $3.20. The company’s 50-day moving average is $2.80 and its 200 day moving average is $2.36. The firm’s market cap is $104.28 million.
Camtek (NASDAQ:CAMT) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. Camtek had a positive return on equity of 7.58% and a negative net margin of 9.15%. The firm earned $27.30 million during the quarter, compared to analyst estimates of $26.05 million. Equities analysts expect that Camtek will post $0.17 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of CAMT. Menta Capital LLC increased its position 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 during the last quarter. Algert Global LLC increased its position 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 during the last quarter. Grandeur Peak Global Advisors LLC bought a new position in shares of Camtek during the second quarter worth $360,000. Kennedy Capital Management Inc. increased its position 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 during the last quarter. Finally, Renaissance Technologies LLC increased its position 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 during the last quarter. 13.73% of the stock is owned by institutional investors.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Camtek Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camtek Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.